The Bureau of Internal Revenue (BIR) announces that the excise tax rates on kerosene and liquefied petroleum gas (LPG) automatically revert to the levels prescribed under Section 148 of the National Internal Revenue Code (NIRC) of 1997, as amended. The reinstatement takes effect on July 8, based on the threshold mechanism tied to Dubai crude oil prices. The BIR says the Department of Energy (DOE) certifies that the one-month average Dubai crude oil price, computed using the Mean of Platts Singapore (MOPS), for June 1 to 30, 2026, is $79.45 per barrel. This price falls below the $80-per-barrel threshold that triggers the end of the suspension. Because the law provides for an automatic return to NIRC-prescribed rates, the BIR states that no further issuance is required. The BIR informs manufacturers, importers, petroleum product companies, taxpayers, and other stakeholders of the change and instructs them to apply the reinstated excise tax rates for kerosene and LPG as of the effective date.
BIR reinstates excise tax rates on LPG and kerosene after Dubai price falls
The Bureau of Internal Revenue (BIR) announces that the excise tax rates on kerosene and liquefied petroleum gas (LPG) automatically revert to the levels prescribed under Section 148 of the National I...
- The BIR says excise taxes on kerosene and LPG return to NIRC-prescribed rates under Section 148.
- The reinstatement is triggered by Dubai crude oil pricing below the $80-per-barrel threshold.
- DOE certification cites a June 1–30, 2026 one-month average Dubai price of $79.45 per barrel using MOPS.
- The change takes effect July 8, 2026.
- The BIR says no additional issuance is needed because the reinstatement is automatic under the tax rules.
MANILA – The Bureau of Internal Revenue (BIR) on Wednesday said the excise tax rates on kerosene and liquefied petroleum gas (LPG) will return to the rates prescribed under the National Internal Revenue Code, following the drop in Dubai crude oil prices. In a statement, BIR advised all concerned manufacturers, importers, petroleum product companies, taxpayers, and […]...Keep on reading: Gov't lifts excise tax suspension on LPG, kerosene
1 month agoMANILA, Philippines — The three-month suspension of excise on kerosene and liquefied petroleum gas (LPG) has officially been lifted after the average Dubai crude oil price fell below the $80-per-barrel threshold, triggering the automatic reinstatement of the tax. In a statement on Wednesday, the Bureau of Internal Revenue (BIR) said the Department of Energy (DOE) […]...Keep on reading: Excise holiday for LPG, kerosene over – BIR
1 month agoMANILA, 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, […]...Keep on reading: Excise tax rate on kerosene, LPG rever to NIRC-prescribed rates
1 month ago
Tate brothers seek bond in Miami amid extradition challenge to the UK
Andrew and Tristan Tate appear in federal court in Miami as they challenge their extradition to the United Kingdom and a...
CIA Director John Ratcliffe warns Putin against attacking NATO during Moscow visit
CIA Director John Ratcliffe makes a rare, unannounced trip to Moscow, where U.S. media report he warns Vladimir Putin ag...
State Farm begins $5 billion one-time dividend payments to eligible auto policyholders
State Farm Mutual is beginning a one-time $5 billion dividend distribution to eligible auto insurance customers, with pa...