Higher fuel taxes that took effect on Monday do not apply to old stocks still to be sold to consumers, the Energy department said.

In an advisory, Energy Assistant Secretary Leonido Pulido 3rd said the Oil Industry Management Bureau (OIMB) had instructed “petroleum products stakeholders not to levy [the new tax rates] on [their] old stocks, considering that excise taxes are levied upon importation and not at the point of sale.”

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details