MANILA — The Department of Finance (DOF) said there is still no clear timeline for the implementation of the law allowing President Ferdinand Marcos Jr. to suspend or reduce excise taxes on fuel, as global oil prices continue to rise due to the conflict in the Middle East.

Finance Undersecretary Rolando Ligon Jr. made the statement during the second day of a briefing by government agencies on the implementation of Executive Order No. 110, which declares a state of national energy emergency and authorizes a unified assistance package for affected sectors.

“We’re still awaiting the instructions from the Office of the President with regards the lifting of the excise tax. If the Office of the President releases it today, the effectivity will be one to two days,” Ligon told the House Legislative Energy Action and Development Committee.

He added that the implementing agencies are still awaiting formal directives.

“Right now, wala pa pong directive sa amin. Hinihintay pa po namin. Once the President issues an Executive Order on suspension of imposition of excise taxes on fuel, the Finance department will be issuing necessary memoranda to the Bureau of Customs (BOC),” he said.

The law authorizing the President to suspend or reduce fuel excise taxes was signed on March 25.

In a separate briefing, Palace Press Officer Undersecretary Claire Castro said an announcement from the President is expected on Tuesday, April 14.

“Bukas po ay magkakaroon muli ng UPLIFT meeting at after the meeting, ibibigay po namin sa inyo ang pinaka-update at mayroon na po kaming iaanunsiyo,” Castro said.

According to the Department of Economy, Planning, and Development (DEPDev), the suspension of fuel excise taxes could lower pump prices by around P6 per liter for diesel and P10 per liter for gasoline.

Ligon, however, said the suspension would only apply to new fuel inventories, not stocks already in the country.

“Yes [it is only for new inventory]. It will be hard [to implement]… with regards to administrative feasibility, reducing the excise tax dues on fuel supply that are already here,” he said.

House Ways and Means Committee chair Rep. Miro Quimbo questioned this approach, saying a credit system could be used instead of refunds.

“We are not asking you to take the excise tax back. What we are saying here is to give them [oil companies] credit for the amount [of excise tax] that they have paid in advance. So that once the suspension is lifted, we can start applying that,” Quimbo said.

He added that the mechanism is feasible given available Bureau of Customs data.

“We can even see there which gas companies are not paying excise tax and smuggling their supply,” he said.

Quimbo pressed for a categorical position from the DOF on the proposal, stressing the need for immediate relief for consumers.

Ligon said the DOF will wait for the Office of the President’s directive on whether the suspension will also cover existing fuel inventories in the country.