- Senator Rodante Marcoleta filed a bill to remove the 12 percent VAT on electricity sales
- The goal is to lower power rates and ease the financial burden on Filipinos
- Removing VAT could reduce operational costs and lower electricity prices
- This move aims to stimulate economic activity and enhance domestic consumption
- Marcoleta highlighted the high electricity costs in the Philippines compared to other Southeast Asian countries
- Reasons for high costs include deregulation, transmission bottlenecks, distribution losses, and reliance on imported fuel
- The Philippine Chamber of Commerce and Industry also supports removing the VAT
- Generation charges have increased, affecting household electricity expenses
- Marcoleta emphasized the need to make electricity affordable for Filipinos
Source: mb.com.ph
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.
