- A Philippine Senate bill proposes lowering VAT from 12% to 10% on goods, services, digital services, and imports.
- Senator Bam Aquino filed the measure to help consumers and the middle class cope with rising fuel and commodity prices linked to the Middle East crisis.
- Similar VAT-cut proposals were previously filed by Senators Erwin Tulfo and Mark Villar.
- The bills note that the Philippines and Indonesia currently have the highest VAT rates in Southeast Asia at 12%, above neighboring countries’ 7% to 11% rates.
Source: ground.news
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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