Palace urged to call special session to suspend excise tax on oil
Bayan Muna Rep. Carlos Zarate. Screengrab from House of Representatives livestreaming
MANILA, Philippines — Bayan Muna Rep. Carlos Zarate is urging President Rodrigo Duterte to call for a special session of Congress to pass the measure suspending the excise tax on oil as prices continue to soar.
Zarate on Wednesday pointed out that continued oil price hikes may cause price shocks amid the tension between Russia and Ukraine, adding that the government should “take preemptive measures that will cushion the impact on the prices of commodities due to the brewing tensions in Eastern Europe.”
“Kaya pang magpatawag ng special session bago pa man magsimula ang campaign period ng local candidates. Kaya naman ding mag-blended session muna para umusad na ang panukala at kagyat na mapasa ito,” Zarate said in a statement.
(The Palace can still call for a special session before the campaign period for local candidates begin. We can have a blended session for the measure to move.)
The bill seeking to suspend the excise taxes on oil remains pending in the House of Representatives.
However, Congress—the Senate and the House—are currently on break for the elections. Campaign for local posts will begin on March 25 while the campaign for national posts began on February 8.
The Department of Finance (DOF) has expressed disapproval of the proposed suspension of the excise tax on oil, saying the Philippines will lose P147.1 billion in one year if the excise tax and value-added tax (VAT) are imposed on fuel will be suspended.
“Hindi dapat hinaharang ng Department of Finance ang suspensyon o pagtanggal na ng excise tax sa petrolyo, lalu na sa diesel, dahil kagyat nitong pabababain ang presyo ng langis at kahit paano ay magpapababa din sa presyo ng mga bilihin,” Zarate said.
(The DOF should not block the suspension or removal of excise tax on petroleum products, especially diesel, because it can lower the prices of oil which could help lower the price of commodities.)
“Why is the Duterte administration sleeping on this basic issue? Why are the government’s economic managers blocking the suspension of oil taxes? Gusto ba talaga nilang pahirapan ang mamamayan?,” he added.
