- The Philippines Senate is considering legislation to exempt electricity and internet services from value-added tax.
- The legislation was proposed by Senate Majority Leader Francis Tolentino to reduce costs for households and businesses.
- The measure is included in Senate Bill No. 2970.
- The legislation would amend the National Internal Revenue Code of 1997 to exempt sales of electricity by generation, transmission, and distribution companies, services of electric utility franchise grantees, and sales and services of internet service providers from VAT.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Philippines"
- Philippines Extends E-Invoicing Compliance Deadline for Large Taxpayers to December 31, 2026
- Philippine Tax Court Partially Grants Petition, Invalidates VAT and Compromise Penalty Assessments
- Supreme Court Rules Condominium Association Dues Not Subject to Value-Added Tax (VAT)
- Philippine Court Partially Grants Input VAT Refund for Zero-Rated Sales in 2020 Tax Case
- Philippine Court Partially Grants Input VAT Refund for Zero-Rated Sales in CTA Case No. 10931
