Gatchalian: PH may face P300B shortfall if excise taxes cut for a year

MANILA, Philippines — The Philippine government could face a revenue shortfall of around P300 billion if excise taxes are cut for one year, according to Sen. Sherwin Gatchalian. Gatchalian, head of the Senate finance panel, explained that there used to be a threshold for suspending excise taxes, but it expired in 2020. “Right now, there