Power

RSA claims oil refiners paying more taxes than importers; Sonny Dominguez argues it’s a supply issue

Department of Finance (DOF) Secretary Carlos Dominguez III has shot down a proposal from bilyonaryo Ramon S. Ang for the government to consider tweaking the current tax system for oil products because oil refiners like Petron were paying more taxes than importers.

In a Viber message to journalists Tuesday, Dominguez said: “It’s actually a supply chain issue rather than a tax issue. We don’t need to change our tax laws on this.”

“It’s happening worldwide, refinery margins are getting squeezed. Big oil companies have been shutting down their refineries in various parts of the world,” he added

Earlier, Ang, president and CEO of Petron, said the company might shut down their Bataan refinery, the biggest in the country if appeals for the government to provide a level playing field in the industry will not result positively. (PNA)

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