(Eagle News)–Senator Bam Aquino on Friday, May 25, urged the government to suspend the excise tax imposed on petroleum products.
Aquino made the statement amid what he said was the surge in prices of goods, and after the Department of Energy said this was possible under the Tax Reform for Acceleration and Inclusion law.
The DOE said, however, that such a suspension would only cover the excise taxes due for 2019.
It was only possible, it said, if the prices of imported crude oil were pegged at $80 per barrel for three months consecutively.
“Nalulunod na ang mga Pilipino sa taas ng presyo. Huwag na natin antayin na tumaas lalo ang bilihin. Aantayin pa ba nila ang 2019? Hindi pa ba aaksyon ang pamahalaan?” Aquino, who voted against the ratification of the TRAIN law, said.
“Next year is too late. Hirap na hirap na ang mga Pilipino sa pagtaas ng presyo,” he added.