Senate bill seeks removal of systems loss VAT in electricity bills

MANILA, Philippines – A bill removing the value-added tax (VAT) on systems loss charges of electric utilities was filed in the Senate on Monday. Authored by Sen. Risa Hontiveros, Senate Bill No. 2076, or the “VAT Exemption on Systems Loss Act for Residential Household Consumers,” aims to amend the National Internal Revenue Code (NIRC) of 1997 by removing the burden of paying the system loss by electric companies and cooperatives. “Itong VAT sa systems loss ay dobleng pasakit at insulto: Pinagbabayad na nga tayo ng systems loss na hindi natin napakinabangan, tapos pagbabayarin pa tayo ng buwis dito. We must […]... Keep on reading: Senate bill seeks removal of systems loss VAT in electricity bills

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