The Department of Finance (DOF) said on Friday the proposed adjustments in oil excise tax rates would raise P807.4 billion in revenues for the government by the end of the Duterte administration.
In a statement, the DOF said adjusting fuel excise taxes and indexing these to inflation would raise P36.1 billion in the second half of 2017, P120.9 billion in 2018, P147.2 billion in 2019, P156.9 billion in 2020, P167.6 billion in 2021, and P178.7 billion in 2022.
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