Bilyonaryo - Business

Sayang pera! Duterte won’t suspend fuel excise tax despite soaring pump prices

President Rodrigo Duterte will not suspend the excise tax on fuel even if gas prices have breached the P90 mark per liter.
Communications Secretary Martin Andanar said the government needs revenues from the excise tax collection to fund much needed programs.
“Hindi naman po nagbabago ang position ng Pangulo [mula] noong Marso [hanggang] sa ngayon,” Andanar said Tuesday (June 7).
“Sang-ayon [siya] sa economic team na huwag suspendihin ang excise fuel tax dahil ang kikitain dito ay na-i-budget na sa suweldo ng mga guro, sa Build, Build, Build at iba pang programa ng ating pamahalaan,” he added.
Andanar said incoming president-elect Bongbong Marcos may consider it: “Hahayaan natin sa susunod na administrasyon ang desisyon tungkol sa panawagan na ito.”
The Tax Reform for Acceleration and Inclusion (TRAIN) raised taxes on fuel, which is now at P10 per liter of gasoline, and P6 per liter for diesel.