Reducing fuel tax up to Congress–DOF

Reducing excise on petroleum products will require legislation, as it is not provided in the Tax Reform for Acceleration and Inclusion (TRAIN) Act, according to a finance official. Assistant Finance Secretary Joselito Lambino II made the clarification in a press briefing in Malacaang on Tuesday when asked to comment on calls to cut the amount of taxes on fuel to stem inflation. "There is no provision under the law for the rollback of the current excise tax [on petroleum products]," Lambino said. "That would need congressional action," he added. Lambino made the remarks following the Department of Finance (DOF) announcement that the next round of fuel taxes in January 2019...Keep on reading: Reducing fuel tax up to Congress–DOF

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