oil taxes
Cutting oil taxes will help control inflation
October 11, 2022
Oil product prices will be lower without oil excise taxes and the 12% VAT. The latest oil price hikes increase the price of gas to as high as Php79.52/liter and of diesel to as high as Php85.79. The oil excise tax and VAT amounts to Php19.54 and Php16.29 for gas and diesel, respectively.
Dubai crude trigger price to suspend TRAIN oil taxes already reached, IBON observed
October 4, 2018
The government is already obliged to start considering suspension of its oil excise taxes as provided for under the Tax Reform for Acceleration and Inclusion (TRAIN) law, said research group IBON. The group said that oil prices have in effect already reached the trigger price for suspending excise taxes as provided in Republic Act 10963 or […]
