December 2000 - The suspension of the three percent import tariff on crude oil and finished oil products will entail a loss for the government of P1 billion over a threemonth period starting last month.
According to Bangko Sentral ng Pilipinas (BSP) Managing Director for Research Diwa Guinigundo, the foregone revenues will be felt by the national coffers for a three-month period, starting last November to January of 2001.
He explained that the three percent tariff on oil imports, both on crude and refined products, constitutes a proportion domestic pump-price. - MB
Your device is compatible with our app.
Click HERE to get your FREE TubagBohol Android AppLinkback:
https://tubagbohol.mikeligalig.com/index.php?topic=87281.0