Gov’t to suspend fuel excise tax if price reaches $80 for 3 months

Gov’t to suspend fuel excise tax if price reaches $80 for 3 months

MANILA, Philippines – Malacañang confirmed that the government would suspend the imposition of excise tax on fuel should its average price for three consecutive months reaches USD$80 per barrel in the world market.

“What I know is, excise taxes will be suspended if they reach a certain amount; if I’m not mistaken, $80. So we’re ready if that will be the case,” said Presidential Spokesperson Harry Roque Tuesday, May 22.

He added that President Rodrigo Duterte also instructed concerned government agencies to provide the necessary financial assistance and other benefits to the poorest families affected by severe inflation. — Rosalie Coz | UNTV News & Rescue

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