• THE DEPARTMENT of Finance (DoF) proposal to further lower the tariffs on rice imports is estimated to bring down prices by as much as P5 per kilo, but also result in around P10 billion in foregone revenues.
• “Our current estimate is less than P10 billion in (foregone) revenues if the (tariff cut) is implemented,” Finance Undersecretary and Chief Economist Domini S. Velasquez said in mixed English and Filipino at a forum on Wednesday.
• Finance Secretary Ralph G. Recto earlier proposed to lower tariffs on rice imports to 17.5%, from the current 35%, to bring down prices of the staple.

https://www.bworldonline.com/top-stories/2024/05/30/598407/dof-estimates-p10b-in-foregone-revenues-from-lower-rice-tariffs/