- Rep. Nathaniel Oducado filed House Bill 6984 to reduce VAT on electricity from 12% to 6% to lower high electricity rates in the Philippines.
- The bill mandates that the VAT reduction be passed directly to consumers and tasks the ERC, DOE, and DOF with monitoring and reporting compliance.
- A 50% VAT reduction would save average households about P130 per month and cost the government P93.5 billion annually.
- Business groups support the measure, citing benefits such as lower costs, increased investment, and job creation.
Source: manilatimes.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.
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