- An advocacy group, Negosyo Advocates, is calling for the complete removal of the value-added tax (VAT) in the Philippines, arguing that it significantly raises production costs and, consequently, the prices of basic goods and services. They believe that eliminating VAT, such as on fuel, would lower production expenses and ease commodity prices. The group also highlighted that the government can afford to remove VAT, given its spending on ghost and substandard projects.
Source: newsinfo.inquirer.net
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"
- Kiko Barzaga Proposes Abolishing 12% VAT for Greater Financial Freedom in the Philippines
- VAT Reduction to 10% Risks Fiscal Deficit, Benefits Wealthy, Warns Philippine Finance Department
- BIR Collects P2.8B from Digital Services VAT, Exceeds Compliance Expectations with 371 DSPs Registered
- BIR Falls Short of VAT Collection Target by P6.37 Billion in First Seven Months
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Electricity Sector Case
