Wednesday 16 January 2019
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inquirer - 8 month ago

Recto: TRAIN has ‘self-executory’ provision stopping fuel excise tax hike

Senate President Pro Tempore Ralph Recto on Thursday insisted that the Tax Reform for Acceleration and Inclusion (TRAIN) Law has a self-executory provision for freezing fuel excise tax if crude oil reaches the $80 a barrel price mark. The tripwire is USD80 per barrel, based on Dubai crude as reflected in MOPS [Mean of Platts Singapore]. Ito ang circuit breaker sa TRAIN. When oil touches this price, suspended ang excise tax increase on gas, Recto explained in a statement. Maintaining that the l

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