A move is underway in the Senate to lower the value-added tax (VAT) imposed on purchased goods and services. Under Senate Bill No. 1552 filed by Senator Erwin Tulfo, Section 106 of the National Internal Revenue Code would be amended to bring down the current 12 percent VAT to 10 percent. The...
DAVAO CITY – Davao City Representatives Paolo Duterte and his son Omar Vincent Duterte have filed House Bill No. 5645 – Value-Added Tax Social Transfer for Indigent Citizens Act of 2025 – to ease the economic burden on the country’s poorest families. According to the Dutertes, HB No. 5645...
President Marcos’ chief economic manager stated that reducing the current 12-percent value-added tax (VAT) rate could weaken the government’s ability to fund operating expenses, such as personnel wages, as it would result in lower tax collections. Finance Secretary Ralph G. Recto said in an...
The Philippine Rural Electric Cooperatives Association, Inc. (PHILRECA) has expressed its support for the proposal to eliminate the multiple value-added tax (VAT) on electricity, which is expected to result in lower power rates for consumers. In a statement on Thursday, May 22, PHILRECA said the...
(Unsplash) Alyansa para sa Bagong Pilipinas senatorial bet Benhur Abalos has reiterated his call to abolish the value-added tax (VAT) on electricity, as well as taxes on fuel exclusively used for power generation. This, as Filipinos...
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...
The Court of Tax Appeals (CTA) has denied the petition of Avaloq Philippines Operating Headquarters which sought from the Bureau of Internal Revenue (BIR) a tax refund of P3 million for its zero-rated sales for the 3rd and 4th quarters of 2017. Avaloq Philippines is engaged in the sourcing...
Senator Francis Tolentino has filed a bill seeking to exempt electricity and internet services from the 12 percent value-added tax (VAT). In filing Senate Bill 2970 on Thursday, Jan. 30, Tolentino noted that electricity costs in the Philippines are among the highest in the region – a...
Photo from Pixabay The Food and Drug Administration (FDA) has issued an advisory announcing the inclusion of additional medicines for cancer, diabetes, and mental health in its list of products exempt from value-added tax (VAT). In its advisory released on Monday, Nov. 25, the FDA explained the new...
Senate President Francis “Chiz” Escudero expressed confidence that the bill imposing a 12-percent value-added tax (VAT) on digital transactions would shore up government coffers by at least P80 billion in revenues. Escudero said that this would level the playing field for local and foreign...
(Unsplash) Hommittee on Ways and Means chairperson and Albay 2nd district Rep. Joey Salceda said he will push the House of Representatives to adopt the proposed Senate measure that seeks to implement a value added tax (VAT) refund mechanism for tourists to...
Up to now, Japanese investors mostly in the Philippines' manufacturing sector are still awaiting the refund of value-added tax (VAT) credits totaling P200 billion from the government, a chamber official said. Moving forward, Japanese firms in the country are "fully" supporting the passage of the...
