Politics
VAT Removal on System Losses to Cost Govt P10 Billion Annually
The Philippine government anticipates an annual revenue loss of approximately P10 billion due to the removal of the 12% value-added tax (VAT) on electricity system losses. The Department of Finance awaits a policy decision from the Energy Regulatory Commission, driven by the President's aim to reduce consumer burden.
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The Department of Finance (DOF) estimates a P10 billion annual revenue loss from removing the 12% VAT on electricity system loss charges. While intended to lower consumer power bills, the move raises fiscal concerns.