- Senator Erwin Tulfo filed a bill to reduce VAT from 12% to 10% to help curb inflation and lower prices of basic goods.
- The bill aims to ease the financial burden on low
- and middle-income families and boost consumer spending.
- The proposed VAT rate aligns with neighboring Southeast Asian countries, which have rates between 7% and 10%.
- The bill allows the President to temporarily restore the VAT to 12% if the national deficit exceeds set targets.
- The bill was filed on November 24, 2025, and is pending Senate deliberation.
Source: news.tv5.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.
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