Philippines' DOF justifies limited fuel tax suspension due to revenue concerns

The Department of Finance (DOF) in the Philippines defends President Marcos's decision to restrict the suspension of fuel taxes primarily to LPG, citing a potential P50 billion revenue loss if diesel and gasoline taxes are included. This stance highlights fiscal challenges amid broader powers granted to the president last month for tax reductions. Watch for future discussions on balancing economic relief measures with fiscal stability as the government navigates revenue impacts.