Manila Mayor Isko Moreno’s proposal to cut down the excise tax on fuel by 50 percent has found support in the House of Representatives with a number of congressmen filing separate bills that will lower the excise tax on fuel products. READ:
During a talk before workers of BPO firms in Cebu City Saturday, Moreno repeated his message and told his audience he felt vindicated with the number of bills filed the Lower House echoing his tax cut on fuel.
Last November 2, Albay Rep. Jose Ma. Clemente S. Salceda, who chairs the House Committee on Ways and Means, filed House Bill 10438 which calls for the lowering the excise tax on fuel products for six months including zero tax for diesel, with the revenue to be foregone by the government estimated at more than P55 billion.
Republic Act No. 10963 or the TRAIN Law raised excise tax on fuel in three tranches from 2018 to 2020. These rates are now at P10/L for gasoline, P6/L for diesel, P5/L for kerosene, and P3/L for liquefied petroleum gas.On top of the fuel tax cut, Moreno is also planning another 50-percent tax break on electricity as this will be beneficial not only to consumers of electricity but also to owners of business enterprises since this would mean additional savings for all.
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