‘Government to lose P700 million monthly in excise tax suspension’

MANILA, Philippines - The government stands to lose at least P700 million a month in revenues after President Marcos suspended the excise tax on liquefied petroleum gas (LPG) and kerosene, Customs Commissioner Ariel Nepomuceno said yesterday.

"If we will base it during the previous suspension from April to July, we will also lose a lot. We will lose at least P700 million a month. But we understand, of course, because the times are different now, there are crises. We also need to support our countrymen, especially those who are struggling," Nepomuceno said.

Finance Secretary Frederick Go, who also sits on the Development Budget Coordination Committee (DBCC), said the resolution is similar to the previous three-month fuel tax relief measure, excluding diesel and gasoline.

Go explained that the covered fuel products are commonly used by vulnerable households for cooking and other daily needs.