DBM: Philippines to lose P117B if fuel excise tax suspended

The Philippines could lose up to P117 billion in revenue if the government suspends the collection of fuel excise taxes.

Budget Assistant Secretary Rolando Toledo said the Development Budget Coordination Committee (DBCC) strongly opposes suspending fuel taxes as it would negatively impact the country's economic recovery.

Suspending fuel taxes would reduce prices by P6 per liter for diesel, P10 for gasoline, and P5 for kerosene, but would result in a projected loss of around 0.5% of GDP.