House bloc seeks oil price spike safeguard in tax bill
By Jovee Marie de la Cruz - MAY 18, 2017
The House of Representatives’ 42-man Visayan bloc wants to include a provision in the Duterte administration’s tax-reform package suspending automatically the excise taxes on petroleum once crude oil hover around the $80-per-barrel mark.
In an interview with reporters, PDP-Laban Rep. Alfredo Benitez of Negros Occidental, head of the Visayan bloc, said automatic suspension of excise taxes on petroleum is needed to safeguard Filipino consumers.