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Metro Manila, Philippines – The Department of Finance said additional value-added tax (VAT) collections from higher fuel prices will not be enough to offset potential revenue losses from suspended excise taxes on diesel and gasoline. Speaking at a Palace briefing on Tuesday, April 14, Finance Undersecretary Karlo Adriano said the government expects about ₱13 billion in additional VAT collections over three months if global oil prices average $100 per barrel. But this would fall short of the estimated ₱43.6 billion in losses if excise taxes on diesel and gasoline are also suspended, on top of the already approved tax cuts on liquefied petroleum gas (LPG) and kerosene. “Your additional VAT collection will be around 13 to 14 billion and then there’s a negative revenue loss of around 30 billion,” Adriano said. He said the gap underscores the fiscal risks of broader fuel tax cuts, prompting the government to prioritize targeted…

Metro Manila, Philippines – Former President Rodrigo Duterte and supporters from the military allegedly considered moves to oust President Ferdinand Marcos Jr., including assassination plans, a self-confessed bagman for Vice President Sara Duterte said.  Ramil Madriaga made the accusation at the House justice committee holding the impeachment hearing on Tuesday, April 14. Madriaga said there was a supposed agreement between the Marcos and Duterte camps to share terms, in particular for the chief executive to step down in 2025 to give way for the vice president.  “After Sara took her oath as vice-president, PRRD (initials of the former president) had a discussion with retired generals of the Armed Forces of the Philippines where I was also present regarding all possible scenarios for unseating BBM by 2025 in case he reneges on his promise. “The general objective was to ensure that BBM will only serve less than four years of his…

Metro Manila, Philippines – The controversial ₱125-million confidential funds of Vice President Sara Duterte was “disposed” in less than 24 hours, her self-confessed bagman said, while a state auditor said Duterte should return millions in disallowed funds. Ramil Madriaga, who claimed to be the vice president’s former aide, detailed the allegation in his supplemental affidavit presented to the House justice committee on April 14.  “I read from several media reports that the ₱125-million OVP confidential funds in 2022 were reportedly utilized in just eleven days. This is wrong because I personally disposed of the money in less than 24 hours,” he told lawmakers. Recipients Madriaga said millions in cash went to a number of people in different locations, including the Office of the Ombudsman in Quezon City, which was then led by Samuel Martires. He said the cash – supposedly in four large bags – was delivered in less than…

Metro Manila, Philippines – While senators welcome the suspension of excise taxes on LPG and kerosene, they are urging the Marcos administration to extend the same relief to diesel and gasoline soon to help bring down fuel prices. “Nagtanggal nga sila ng excise tax pero hindi pa nila isinama ang diesel na siyang numero unong ginagamit ng ating mga driver, mangingisda, at magsasaka,” Senator Imee Marcos said in a statement on Tuesday, April 14.  [Translation: They removed the excise tax, but they did not include diesel, which is the primary fuel used by our drivers, fisherfolk, and farmers.] She urged the administration of her brother, President Ferdinand Marcos Jr., to immediately widen the tax break. “‘Wag na sana nilang unti-untiin ang pag-aanunsyo kada klase ng produktong petrolyo at idamay na nila ang krudo agad-agad,” she said.  [Translation: They should no longer roll this out piece by piece for every type…

Metro Manila, Philippines – Vice President Sara Duterte was a no-show again in the impeachment hearing of the House of Representatives, as key documents and witnesses are expected to be presented on Tuesday, April 14. Her defense team, who previously called the proceedings unconstitutional, did not attend the hearing as well, said Michael Poa, the defense team spokesman. Poa was present at the hearing on a subpoena issued by the House justice committee. He was former chief of staff of the Department of Education (DepEd) during Duterte’s term. The vice president quit the agency in 2024 amid rifts with the president.  In a chance interview, Poa said he attended the hearing to comply with the summons.  Duterte is facing two impeachment complaints for supposed betrayal of public trust, culpable violation of the Constitution, bribery, and high crimes, among others over alleged misuse of public funds, threats to the first family,…