BACOLOD CITY – Sen. Francis Tolentino pushed the removal of the 12 percent Value-Added Tax on power rates to reduce the cost of electricity and lower the prices of goods and services that rely on power.
TOLENTINO
In an interview at Nature’s Village Resort in Talisay City, Negros Occidental on Friday, Feb. 21, Tolentino reiterated his efforts to make electricity more affordable.
He said that an amendment to the National Internal Revenue Code would be made, effectively exempting electric services from VAT.
This change will be implemented nationwide to bring down electricity prices and, consequently, lower the cost of goods, particularly frozen products, Tolentino said.
The senator said that this move would have a domino effect. “This will be a big help to the people,” he stated.
Tolentino who is seeking reelection under the Alyansa para sa Bagong Pilipinas in the midterm elections is also seeking to strengthen national security.