Excise tax rate on kerosene, LPG rever to NIRC-prescribed rates

MANILA, Philippines — The excise tax rates on kerosene and liquefied petroleum gas (LPG) will automatically revert to the rates prescribed under Section 148 of the National Internal Revenue Code of 1997, as amended, effective July 8, without the need for further issuance, the Bureau of Internal Revenue announced on Wednesday.

The BIR advised all concerned manufacturers, importers, petroleum product companies, taxpayers, and stakeholders of the development, explaining that the Department of Energy has certified that the one-month average Dubai crude oil price, based on the Mean of Platts Singapore (MOPS), from June 1 to 30, 2026, was $79.45 per barrel, below the $80.00 per barrel threshold under Executive Order No. 114-2026.

EO No. 114, which was issued on April 16, temporarily suspended the excise taxes on specific petroleum products for three months from its effectivity.

Article continues after this advertisement

The EO also provided that the excise tax rates will automatically revert to the rates prescribed under the NIRC, without the need for further issuance, under the following conditions:

one week after the one-month average Dubai crude oil price based on MOPS falls below $80.00 per barrel, as certified by the DOE

once the three-month suspension period lapses

/atm

Your subscription could not be saved. Please try again.

Your subscription has been successful.