House OKs Bill Allowing Marcos to Tweak Excise Tax on Fuel on 2nd Reading - BusinessWorld Online

House OKs bill allowing Marcos to tweak excise tax on fuel on 2nd reading - BusinessWorld Online

By Kenneth Christiane L. Basilio, Reporter THE HOUSE of Representatives on Wednesday passed on second reading a bill authorizing President Ferdinand R. Marcos, Jr. to suspend or cut excise taxes on fuel and other petroleum products. This comes a day after the House Committee on Ways and Means first took it up as lawmakers aim to equip the government with tools to rein in surging oil prices. In a voice vote, lawmakers approved House Bill (HB) No.…

House bill allowing Marcos to suspend excise tax OKd on 2nd reading

The House of Representatives on Wednesday approved on second reading a bill granting emergency powers to President Ferdinand Marcos Jr. to suspend or cut excise tax on fuel amid the ongoing conflict in the Middle East.

House panel OKs bill enabling president to cut fuel excise tax

THE House Committee on Ways and Means on Tuesday approved a substitute bill that would authorize the president to suspend or cut fuel excise taxes during national or global economic emergencies.The unnumbered measure, which consolidated 15 bills, seeks to amend the National Internal Revenue Code (NIRC).“This is simply a delegation of a legislative power, which Congress has done many, many times. In fact, in that very same provision on Section 14…

House panel OKs bill granting Marcos power to suspend, cut fuel excise taxes

The House Committee on Ways and Means approved a substitute bill granting President Bongbong Marcos the power to suspend or reduce excise taxes on petroleum products as fuel prices surge by double digits amid the escalating conflict in the Middle East.

DY, SANDRO MARCOS PUSH TO SUSPEND FUEL EXCISE TAX

Speaker Faustino “Bojie” Dy III and House Majority Leader Sandro Marcos of Ilocos Norte filed a bill authorizing the President of the Philippines—currently President Ferdinand Marcos – to suspend or reduce excise taxes on petroleum products during national or global economic emergencies to help cushion Filipinos from surging fuel prices. Marcos said House Bill (HB) No. 8292 seeks to amend the National Internal Revenue Code to give the President …