President Ferdinand Marcos Jr. has instructed the House of Representatives to study the removal of value-added tax (VAT) on utilities to ease the burden of Filipinos, a leader of the House of Representatives said on Thursday. Know more:
PRESIDENT Ferdinand Marcos Jr. has instructed the House of Representatives to study the removal of value-added tax on utilities to ease the burden of Filipinos, a leader of the House of Representatives said on Thursday.
“We diligently study every proposal, which may provide relief to consumers but considering the impact on government revenues,” he added. “We will deal with it. We need to consult the DOF on what happened to Maynilad and Manila Water; when we removed the VAT and increased the franchise tax, “The committee will seriously study the removal of the VAT on utilities provided that we will increase the franchise tax,” he added.
“Definitely, we try to avoid any revenue negative action. We will try as much as possible to avoid any downgrade arising from higher deficit and debts we are very conscious of that,” said Salceda.The Makabayan bloc led by House Deputy Minority leader and ACT Teachers party-list Rep. France Castro on Thursday refiled the “anti-VAT” package of bills to ease the burden of Filipino consumers reeling from the effects of the Covid pandemic and runaway inflation.
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