Bam urges unity behind Duterte on suspension of oil excise tax

Senator Bam Aquino expressed hope on Wednesday that with President Rodrigo Duterte’s inclination to suspend excise taxes on oil products, the government will unite to support the move.

“Umaasa kami na kayang magkaisa ang iba’t-ibang partido sa gobyerno upang magkatotoo ang suspension ng excise tax at bawasan ang presyo ng petrolyo,” Aquino said.

Aquino issued this statement after Duterte said he would consider the suspension of excise taxes on oil products amid the high inflation in the country.

READ: Duterte eyes bold step of suspending excise taxes on oil

The senator welcomed the President’s openness to consider the suspension of excise taxes on oil products.

A provision in the Tax Reform for Acceleration and Inclusion (TRAIN) law states that further rate increases on excise taxes on oil will be suspended in case the average price of oil in Dubai goes above $80 a barrel for three straight months.

“Lubos tayong nasisiyahan na bukas siya at pinag-iisipan na ni Pangulong Duterte ang pagsuspinde sa pagtaas ng buwis sa petrolyo ngayong Enero,” Aquino said.

“Matagal na tayo nananawagan na kailangan nang magtulungan upang bigyan ng ginhawa ang mga kababayan nating nalulunod na sa pagtaas ng presyo ng bilihin,” the senator said. /cbb