Lawmaker bats for 6-month fuel excise tax reduction

Albay 2nd District Representative Joey Salceda is pushing for a six-month reduction of excise taxes on fuel products, as oil prices continue to rise

The lawmaker on Tuesday filed House Bill No. 10438, which seeks to suspend the ₱5 to ₱6 per liter excise taxes on diesel and kerosene from December 1, 2021 to June 1, 2022, and slash the excise taxes on gasoline by ₱3 per liter - from ₱10 to ₱7.

The successive oil price hikes over the past two months have been hurting not just the transportation sector, but also other industries dependent on oil. He noted the expected revenue loss from his proposal would be ₱55.04 billion, of which ₱36.42 billion will be from diesel, ₱18.28 billion from gasoline, and ₱0.34 billion from kerosene.

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