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Group urges to keep Petron refinery running amid closure reports

Warren de Guzman, ABS-CBN News
Posted at Oct 29 12:03 AM

Several news organizations earlier reported that Petron was planning to permanently shut down its Bataan refinery because the tax system put it at a disadvantage versus importers of finished products.  Read more »

Cigarette tax stamps down 59 percent during lockdown: DOF

ABS-CBN News
Posted at Aug 11 03:12 PM

The total number of cigarette tax stamps issued by the Bureau of Internal Revenue (BIR) during the lockdown of Metro Manila and other parts of Luzon fell by more than half, the Department of Finance (DOF) said Tuesday. Read more »

Duterte raises taxes on alcohol, e-cigarettes; exempts certain medicines

Arianne Merez, ABS-CBN News
Updated as of Jan 23 05:39 PM

MANILA- President Rodrigo Duterte has signed a law increasing taxes on alcohol, heated tobacco and vapor products, his spokesman Salvador Panelo confirmed Thursday. Read more »

Petron net income falls in first half as excise taxes bite

ABS-CBN News
Posted at Aug 06 05:51 PM

Petron disclosed on Tuesday that its net income fell "significantly" in the first half as local revenues were affected by the second round of fuel excise tax hikes.  Read more »

Duterte signs law imposing higher taxes on cigarettes

ABS-CBN News
Updated as of Jul 26 05:13 PM

President Rodrigo Duterte has signed a law imposing higher excise taxes on tobacco products, according to Finance Secretary Carlos Dominguez. Read more »

Petron income dragged down by TRAIN, higher world oil prices

ABS-CBN News
Posted at May 07 07:03 PM

Petron, the country's biggest oil company, said its net income went down in the first three months of the year amid higher fuel excise taxes, and as world oil prices began rising again. Read more »

World oil price hikes, 2nd excise tax seen driving inflation in January

ABS-CBN News
Posted at Jan 31 08:25 PM

A BSP think-tank said fuel costs climbed this month due to higher world oil prices and the second tranche of TRAIN excise taxes on petroleum products.  Read more »

Consumer group urges Duterte to scrap fuel excise tax

ABS-CBN News
Updated as of Nov 30 12:09 PM

With the existing 12-percent VAT and the decrease in world crude prices, there is "no need" to implement the second and third tranches of the excise tax on fuel, United Filipino Consumers and Commuters President Rj Javellana said. Read more »

Gov't to tighten purse strings amid fuel tax hike suspension: Diokno

ABS-CBN News
Updated as of Oct 18 09:25 AM

The government will cut down on some expenses amid the suspension of the second round of higher excise tax on oil, Budget Secretary Benjamin Diokno said Thursday.   Read more »

Suspension of next fuel tax hike will help 'manage' inflation expectations: DOF

ABS-CBN News
Updated as of Oct 16 11:50 AM

Department of Finance (DOF) Asec. Tony Lambino said many people mistakenly blame excise taxes on fuel for the rising prices of goods.  Read more »

As world oil prices rise, next round of fuel tax hikes may be suspended: analyst

ABS-CBN News
Posted at Oct 02 08:13 PM

The government may be prompted to suspend the second round of excise tax hikes on petroleum products due next year as world oil prices continue to rise, an analyst said Tuesday.    Read more »

Tax reform suspension may hurt poor more: economist

Michelle Ong, ABS-CBN News
Posted at May 28 02:00 PM

Suspending the first tranche of tax reforms could end up hurting the poor since this would limit government funding for social services, an economist said Monday. Read more »

Bam Aquino wants tax reforms frozen, fuel excise taxes amended

ABS-CBN News
Posted at May 10 07:01 PM

MANILA - Senator Bam Aquino on Thursday called for the suspension of the new tax reform law and amendments to its provision on fuel excise taxes.  Read more »

Price hikes 'minimal,' poor to get P24.5-B cushion, gov't says

ABS-CBN News
Updated as of May 29 03:08 PM

Higher taxes on fuel will result in a "minimal" increase in commodity prices and P24.5 billion will be given to the poor to help them cope, President Rodrigo Duterte's economic managers said Wednesday. Read more »

Trade chief renews warning vs profiteering with new taxes

ABS-CBN News
Updated as of Jan 04 06:00 PM

Prices of fuel and sugar-sweetened drinks should not increase due to new taxes in the next 2 to 3 weeks, until old inventory is used up, the government said, as it renewed its warning against profiteering. Read more »