But Lambino said legislative action is needed to implement an immediate suspension of the excise taxes
. "The excise tax rates are provided in the law.
Go said the Duterte administration is open to putting on hold the increase in excise taxes
under the Tax Reform for Acceleration and Inclusion (TRAIN) law.
Ejercito said the IRR apparently has not been clear and explicit on exactly how to go about triggering the suspension of the excise taxes
, which could give the DOF an excuse to drag its feet.
The total excise taxes
collected from alcoholic beverages was also 19.2 percent higher than the P28.11 billion recorded a year ago.
On the other hand, other forms of excise taxes
went below target in the first half despite being higher than last year's level.
Regardless of the regulatory nature of the section 4971 tax, Congress has labeled it an "excise tax." And the Bankruptcy Code grants priority to excise taxes
, without further definition or limitation.
This was after President Duterte said late Tuesday in a press briefing with Palace reporters that he may suspend excise taxes
on oil under the Tax Reform for Acceleration and Inclusion (TRAIN) law.
from automobiles reached P2.92 billion; mineral taxes, P1.56 billion; petroleum, P18.03 billion, and sugar-sweetened beverages, P17.65 billion.
Juan Victor Ejercito, meanwhile, revived his proposal to increase tobacco excise taxes
to help the government raise revenues in the event if it decided to suspend TRAIN's excise tax on fuel.
4371 excise taxes
on premiums paid to foreign insurers or reinsurers under a U.S.
The head of the Duterte administration's economic team on Monday said the temporary suspension of the increase in oil excise taxes
scheduled next year will push through during the first quarter of 2019.
Misajon said this is due to unchanged consumption behavior of smokers, and frontloading on the part of the manufacturers in anticipation for higher excise taxes