Philippine President Marcos Jr. Signs Law Suspending Fuel Excise Tax
The Philippine government has declared a state of national energy emergency and identified P230 billion in funds to mitigate the Middle East crisis impact. President Ferdinand Marcos Jr. has now officially signed into law a bill authorizing him to suspend or reduce excise taxes on petroleum products, though senators have criticized the government's slow action.
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Marcos signs law suspending fuel excise tax
MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday signed into law a bill authorizing him to suspend or reduce excise taxes on petroleum products, as the country continues to feel the impact of rising oil prices caused by the conflict in the Middle East. Republic Act No. 12316 states that the sitting president, upon the
By mmercado
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