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DOF may suspend excise tax on fuel-Drilon
By J.Lo
"There is no stopping the executive, specifically the Department of Finance and the Bureau of Internal Revenue, from suspending collection of excise taxes on petroleum products, if they really want to mitigate impact of high oil prices on the cost of goods and living expenses of ordinary Filipino," Senate Minority Leader Franklin Drilon told officials of the Department of Finance to "stop hiding behind the law" as he argued that there are no legal impediments for taxmen to seek suspension of excise taxes on fuel products.
The senator said Tax Reform for Acceleration and Inclusion Law should be interpreted "liberally" not only in light of suspending increases in excise taxes but also in its imposition.
Drilon, a former Justice secretary, said country is in an "extraordinary situation" that calls for "liberal application of the law and for compassion."
"We are not seeking an exemption from taxes here and therefore strict construction of the law is misplaced… Filipinos are suffering… burden should be borne by the government… government cannot just stand and hide behind the law to say that there is nothing that can be done…we cannot wait for the law to be amended before we act… situation is changing rapidly by the day and we need to act fast, they implement the law…who will blame DOF and BIR if they suspend excise taxes on fuel products…who will file a case against them…whose rights will be violated if taxes are suspended…please stop hiding behind the law. .. TRAIN law does not intend to tie hands of the government and prevent it from responding to shocking increases in oil prices to the detriment of consumers" Drilon said.
Drilon then argued intention of TRAIN Law is to provide DOF "power to arrest" possible inflation with provision wherein increases of excise taxes would be suspended should price of oil per barrel exceeds $80.
This provision, however, had already expired in 2020 as earlier pointed out by Senator Panfilo Lacson.
"Clearly, the spirit of the law is to give government elbow room to address situations where price of crude oil in the world market exceeds 80 US dollars... law acknowledges that such scenario will drive inflation to unconscionable levels a scenario which we want to prevent, mitigate and arrest," Drilon said.
Under the TRAIN Law, the lawmaker said DOF may recommend implementation or suspension of the excise tax on fuel based on an annual review.
"We should be mindful of the purpose in putting safeguards in the law…it was to cushion inflationary effects of fuel prices and untold hardships it will bring on our citizens, if DOF wants to suspend collection of taxes, it can…it has done so in the past" Drilon emphasized.
He recalled that in December 2021, Bureau of Internal Revenue has suspended imposition of the 12% value added tax on exporters' purchases after vehement objection from concerned stakeholders.
The BIR, however, said postponement is solely due to COVID-19 pandemic, Drilon noted.
Under the TRAIN Law, Drilon said transactions which were previously zero rated shall be subject to 12% VAT after government has established an enhanced VAT refund system and has fully paid all pending claims for refund.
"The government was able to establish such system but imposition of 12% was suspended nonetheless," Drilon said.
Several lawmakers have support to the suspension of excise taxes on fuel products as an immediate relief amid continuous rise in oil prices.
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