
CHIZ: LIFTING OF 12% VAT ON POWER TO HELP HOUSEHOLDS, BUSINESSES WITHOUT HARMING FISCAL STABILITY
Senator Francis “Chiz” Escudero said electricity sales should be exempt from the 12-percent value-added tax (VAT), saying this targeted relief in the power sector under his proposed bill would have immediate impact and ease household and industrial burdens without undermining fiscal stability.Escudero acknowledged the recent remarks of Executive Secretary Ralph Recto, who cautioned against proposals to revert the expanded VAT to 10 percent owing to the government’s P1.6 trillion debt, and emphasized that his measure differs fundamentally as it does not reduce VAT across the board but instead zeroes in on electricity, a sector where relief is most urgently needed.“While broad tax cuts may strain government revenues, lifting the tax on electricity is a fiscally responsible choice...









