In the light of recent drop in global oil prices, the economic team on Thursday decided to recommend to President Rodrigo Duterte to push through with the second tranche of oil excise tax increase as mandated under the Tax Reform for Acceleration and Inclusion (TRAIN) Act. But it will be ultimately up to the President, who this month issued a memo approving the economic managers' earlier recommendation to temporarily suspend the levy, to decide on the matter when the Cabinet meets on December 4, Finance Secretary Carlos G. Dominguez III told a press conference. Following the meeting of the Cabinet-level, interagency Development Budget Coordination Committee (DBCC), Dominguez said "th...
Keep on reading: DBCC back-pedals, now OKs higher fuel excise taxes in 20l9
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