Senate President Pro Tempore Panfilo “Ping” M. Lacson is seeking to speed up the government’s mechanisms to address rising fuel costs, especially amid unstable prices of oil due to the tension in the Middle East.
Lacson on Saturday particularly pushed for an amendment to the National Internal Revenue Code (NIRC)’s provision that would shorten the “wait period” of three months before suspending excise tax on fuel.
“I am not just pushing for an emergency power but for a permanent amendment to the NIRC to shorten the ‘wait time’ to suspend excise taxes, especially with the situation now in the Middle East. We cannot wait three months before suspending the imposition of an excise tax,” he said in a mix of English and Filipino in an interview on DZMM.
In Filipino: Lacson Nais Pabilisin ang mga Mekanismo upang Matugunan ang Tumataas na Presyo ng Langis
Lacson also noted that the provision in the Tax Reform for Acceleration and Inclusion (TRAIN) Law to suspend the excise tax on fuel when the price of Dubai crude oil breaches US$80 already expired in 2020.
Under Article 148 of the NIRC, for the period covering 2018 to 2020, the scheduled increase in the excise tax on fuel shall be suspended when the average Dubai crude oil price for three months before the scheduled increase of the month reaches or exceeds US$80 per barrel.
“This should not be automatic. Instead, the law as proposed to be amended must give leeway to the Department of Finance to suspend the excise tax immediately and not wait for three months. If we wait for three months, it may be too late,” Lacson said.
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Lacson Nais Pabilisin ang mga Mekanismo upang Matugunan ang Tumataas na Presyo ng Langis
Nais ni Senate President Pro Tempore Panfilo “Ping” M. Lacson na pabilisin ang mekanismo ng pamahalaan upang matugunan ang patuloy na pagtaas ng presyo ng langis, lalo na sa gitna ng unstable na presyo ng langis sa pandaigdigang merkado dulot ng tensyon sa Middle East.
Partikular na itinutulak ni Lacson ang pag-amyenda sa probisyon ng National Internal Revenue Code (NIRC) upang paikliin ang “wait period” bago masuspinde ang excise tax sa fuel.
“Ang gusto ko doon, hindi lang emergency power. Gawin nating permanent amendment sa NIRC at iksian ang panahon, especially ngayon dahil may gulo sa Middle East. Hindi tayo makahintay ng tatlong buwan bago ma-suspend ang imposition ng excise tax,” aniya sa panayam sa DZMM.
Binanggit din ni Lacson na nag-expire na noong 2020 ang probisyon sa Tax Reform for Acceleration and Inclusion (TRAIN) Law na nagpapahintulot na suspindihin ang excise tax sa fuel kapag lumampas sa US$80 ang presyo ng Dubai crude oil.
Sa ilalim ng Article 148 ng NIRC, para sa 2018 hanggang 2020, ang nakatakdang pagtaas ng excise tax sa fuel ay isinususpinde kapag ang average na presyo ng Dubai crude oil sa loob ng tatlong buwan bago ang nakatakdang pagtaas sa isang buwan ay umabot o lumampas sa US$80 kada bariles.
“Kailangan hindi automatic, pero bigyan ng leeway ang executive or DOF na i-suspend na kaagad. Huwag maghintay ng three months, o 90 days, baka patay na ang kabayo, nagmahal na ang langis hindi pa tayo nag-suspend,” ani Lacson.
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