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Senator Kiko Pangilinan filed a measure to exempt system loss charges in electricity bills from the value-added tax (VAT), aiming to ease the burden of high electricity costs on Filipino consumers. Senate Bill No. 2124, or the VAT Exemption on Systems Loss Act for Residential Household Consumers, seeks to amend Section 109 of the National […]
The death of a motorcycle taxi rider who was lining up for fuel assistance in Quezon City has underscored the urgent need for faster, more dignified forms of economic relief, prompting Senior Citizen Party-list Representative Rodolfo Ordanes to call for a time-bound reduction or suspension of the 12% Value-Added Tax (VAT). “Hindi dapat ganito ang […]
Camarines Sur (CamSur) Rep. Migz Villafuerte is backing a proposal in the 13-committee House mega panel tackling the global oil shock to suspend for two months the collection of the Value Added Tax (VAT) on petroleum products, “to relieve the burden of the now outrageous fuel prices, which, unless eased, could possibly shove as many 1.34 […]
Senator Chiz Escudero wants the government to tap the unexpected windfall from value-added tax (VAT) collections on petroleum products for direct financial assistance to sectors affected by the rising fuel costs since the Middle East war erupted last February. According to Escudero, the surge in VAT revenues should not be treated as additional income, but […]
The suspension of excise tax on petroleum products is not sufficient to ease the burden of Filipinos because of the rising cost of basic commodities due to soaring fuel price increases. Senator Erwin Tulfo, during the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) ad hoc committee hearing, suggested that reduction […]
Senator Chiz Escudero called for amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Law that will empower the President to suspend or lower excise and value‑added taxes (VAT) on fuel whenever global oil prices exceed the benchmark assumptions for Dubai crude set in the government’s Budget of Expenditures and Sources of Financing (BESF). […]
Camarines Sur Reps. Migz Villafuerte and Luigi Villafuerte have shot down a proposal by the Organisation for Economic Cooperation and Development (OECD) for the government to discontinue exempting senior citizens from the 12% Value Added Tax (VAT) as part of fiscal consolidation reforms to reduce our debt and narrow the budget deficit. At this time […]
Senator Chiz Escudero said electricity sales should be exempt from the 12-percent value-added tax (VAT), saying this targeted relief in the power sector under his proposed bill would have immediate impact and ease household and industrial burdens without undermining fiscal stability. Escudero acknowledged the recent remarks of Executive Secretary Ralph Recto, who cautioned against proposals […]
The Bureau of Internal Revenue (BIR) is urging the public to report pharmacies that continue to impose value-added tax (VAT) on medicines that are already exempt, following the issuance of Revenue Memorandum Circulars (RMC) Nos. 59-2025 and 62-2025, which expanded the list of VAT-exempt medicines. In a recent television interview, BIR Commissioner Romeo Lumagui Jr. […]
Department of Tourism (DOT) Secretary Christina Garcia Frasco expressed optimism that the newly implemented Value-Added Tax (VAT) Refund for Non-Resident Tourists Law will significantly enhance the country’s tourism sector.Frasco’s remarks came after the ceremonial signing of the Implementing Rules and Regulations (IRR) for Republic Act No. 12079 at the Department of Finance (DOF) in Manila. […]