EO on excise tax cut out by mid-AprilMANILA, Philippines — It’s going to be a long wait: President Marcos is likely to issue the order to suspend or reduce the fuel excise tax only in mid-April. No tax cut figure yetThe government is still determining the amount of reduction in fuel excise tax as it continues to consider other possible measures to alleviate the plight of sectors vulnerable to price hikes triggered by the Middle East war. Oil players also expressed their approval of a proposal in the Senate to remove the 12 percent value-added tax (VAT) on petroleum products. You cannot run a country or a business with uncertainty of fuel supply,” Gatchalian said. If the oil companies are saying they’re suffering much, then it’s up to the government to move,” Gatchalian said.

Source: Philippine Star March 26, 2026 22:01 UTC