Tax hike ‘unlikely’ the cause of Petron’s weak H1 income, says DOF

The Department of Finance (DOF) yesterday said it was unlikely that the decline in the first half earnings of the country’s largest petroleum refiner and distributor was caused by the fuel tax hike imposed by the government last year. In a statement, Finance Undersecretary Gil Beltran said it was “highly unlikely” that the increase in […] The post Tax hike ‘unlikely’ the cause of Petron’s we