Marcos to certify as urgent measures for oil excise tax reduction — Palace

President Ferdinand ''Bongbong'' Marcos Jr. intends to certify as urgent new proposed measures that will give him the authority to reduce excise tax on oil products, Malacañang said Wednesday 

''Sa huli po nating pakikipag-usap, ang sabi po sa atin, kapag po nag-lift o nag-suspend po ng excise tax ay dapat po 2018 to 2020,'' Palace Press Officer Undersecretary Atty. Claire Castro said in a briefing. 

(We were informed that lifting or suspending the excise tax should be from 2018 to 2020.) 

''So, sa ngayon po ay hindi po siya umiiral, kaya po ninanais ng Pangulo na magkaroon ng panibagong batas para po mabigyan siya ng authority na ma-reduce ang excise tax,'' she added. 

(It's not implemented as of this time so the President wants to have a new law so he can have the authority to reduce excise tax.) 

Castro answered in the affirmative when asked if this measure will be certified as urgent.

On Tuesday, Marcos said he would talk to congressional leaders to give him the authority to reduce excise taxes on petroleum products once the price of Dubai crude exceeds $80 per barrel. 

The Chief Executive made the remark during a press conference about the government's efforts amid the ongoing tension in the Middle East. 

He said this would only be an emergency measure for immediate disposal once the conflict in the region is over. 

Also on Tuesday, House ways and means panel chair and Marikina City 2nd District Representative Miro Quimbo filed a bill seeking to allow the President to suspend or reduce the excise tax on petroleum products during national or global economic emergencies.

House Bill 8257 seeks to amend Section 148 of the 1997 National Internal Revenue Code (NIRC) and allow the President, as recommended by the Finance Secretary, to suspend the imposition of fuel excise taxes under the following conditions:

• The average Dubai crude oil price has reached or exceeded $80 per barrel for a continuous period of at least three months immediately preceding the issuance of the suspension order; or
• A state of national emergency or calamity has been declared by the President, and such condition has resulted in extraordinary increases in domestic pump prices of petroleum products as certified by the Energy Secretary.

— RSJ, GMA Integrated News