ICYMI: PBBM orders suspension of excise taxes on LPG, kerosene anew

MANILA: President Ferdinand Marcos Jr. has again ordered the temporary suspension of excise taxes on liquefied petroleum gas (LPG) and kerosene as global crude oil prices continue to rise.

Executive Order No. 125, issued last week, followed a recommendation from the Development Budget Coordination Committee (DBCC) and a certification from the Department of Energy (DOE) noting that the average Dubai crude oil price had reached $99.41 per barrel based on the Mean of Platts Singapore (MOPS) over the preceding 30 calendar days.

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“The excise taxes on LPG, except when used as raw material for production of petrochemical products or used for motive power, and kerosene, except when used as aviation fuel, are hereby fully suspended,” the executive order stated.

Under the order, the DBCC, in coordination with the DOE, shall review the implementation of the tax suspension 15 days after the EO is issued and every month thereafter, and submit a report to both chambers of Congress.

DBCC's recommendation to the President will be based on the joint evaluation regarding whether the measure should continue, be modified, or be lifted, allowing excise tax collection to resume.

The DOE and the Department of Finance (DOF), through the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), were directed to conduct an inventory of existing LPG and kerosene stocks as of the order’s effectivity.

On April 16, the Philippine government also temporarily halted excise tax collection on kerosene and LPG; the levy resumed in July.

Also read:

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