MANILA – A senator on Sunday suggested the abolition of the $80 threshold for suspending the second tranche of fuel excise taxes for 2019, to give the government flexibility in making decisions.
“Isa sa proposal natin na tanggalin na ang $80 dollars na threshold para may flexibility ang pamahalaan to suspend the taxes if the need arises,” said Sen. Sherwin Gatchalian, chairman of the Senate panel on economic affairs.
In Sunday’s interview on Super Radyo, Gatchalian also said that the government should study “good timing” in suspending excise taxes on fuels.
“Mahalaga sa tax reform ang timing at sa maraming bansa tinitignan nila yung forecast, tinitignan nila yung timing. Hindi lang sila pataw nang pataw,” he added.
In October last year, Finance assistant secretary Antonio Joselito “Tony” Lambino II said the suspension will be activated if the crude prices reach or exceed the $80 per barrel for three months.
But Gatchalian insisted, “Huwag na nating hintayin ang $80. Kapag hinintay natin ang $80, marami na ang umaaray.”
Anti-profiteering body
Last Saturday, Gatchalian siad the proposal to set up an anti-profiteering task force to guard against against oil price increases amid the implementation of the second tranche of the tax law has gained positive responses.
The senator said he has been urging the Department of Trade and Industry and the Department of Energy to have a task force to guard against premature price increases and profiteering.
Also, he said, “Dapat may inventory na 15 days ang oil companies, so ibig sabihin hindi sila pwede magtaas ng presyo for 15 days or until Jan 15 so dapat ang makikita natin ay dating presyo pa.”
“I-maintain nila ang imbentaryo sa lumang presyo,” he added. (GMA News)
