TRAIN law has mechanism on fuel tax suspension


Posted at May 18 2018 12:05 AM | Updated as of May 18 2018 08:25 AM

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The tax reform law has a mechanism that will suspend future increases in excise duties on fuel if world oil prices breach $80 per barrel. The Bureau of Internal Revenue is preparing implementing rules for this as consumers bear the brunt of higher transportation costs.- Business Nightly, ANC, May 17, 2018