Duterte gives consent for second round of excise tax increase on oil products to push through 249 SHARES Share it! Share TweetBy Genalyn KabilingThe second round of excise tax increase on oil products will push through next year following the consent given by President Duterte. “At its peak, diesel price was P49.80 per litre, it will be P37.76 in Jan 19, inclusive of the P2 peso excise tax. The President’s economic managers have withdrawn an earlier recommendation to suspend the second tranche of excise tax increase on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) law. The economic team instead recommended to the President to push through with the additional P2 levy on oil products in January 2019 in light of the drop in oil costs.

Source: Manila Bulletin December 04, 2018 11:48 UTC