“Since Congress is suspended and given that the country remains under a state of emergency because of the COVID-19 pandemic, the President can issue an order similar to what he did last year when he signed two EOs that reduced import taxes on chilled and fresh pork meat and raised the minimum access volume for pork imports to address the supply shortage and soaring prices,” said So in a statement.
According to the group, the increasing prices of crude oil resulted in an increase in the cost of production for small fisherfolk to P180 per fishing operation, or a total of P720 additional fuel cost for a week of four fishing trips. “The DOF does not support the proposed suspension of the excise taxes on fuel as well as the VAT because it translates to significant foregone revenues. It will be detrimental to our recovery and long-term goals and it is inequitable,” the DOF said.
CEBacligINQ Suspend suspend
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