- Draft bills in the Philippine Senate propose reducing the general VAT rate.
- The VAT cut would not apply to luxury, premium, and environmentally harmful goods and services.
- The reform aims to make VAT less regressive.
Source: vitallaw.com
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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