If not suspension, solon proposes P6 per liter VAT cap on fuel

MANILA, Philippines — If the government cannot totally suspend the imposition of a 12 percent value added tax (VAT) on fuel, a cap on the levy should be the next option to bring down prices of diesel and gasoline. Cavite Rep. Lani Mercado-Revilla, during the hearing of the House of Representatives’ Legislative Energy and Development (LEAD) committee on Wednesday, suggested that VAT on fuel be capped at P6 per liter — based on the VAT slashed from fuel before the Middle East conflict, when diesel and gasoline prices were around P50 per liter. READ: Marcos announces suspension of excise tax on […]... Keep on reading: If not suspension, solon proposes P6 per liter VAT cap on fuel

Go to News Site