Politics
VAT-free power fee may cost gov’t P10B
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.
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- 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.