Senator Risa Hontiveros proposed the lowering of value-added tax (VAT) on products and
services from the current 12 percent to 10 percent.
She argued that VAT could even be lowered to 8 percent.
Besides kapag umabot na sa 4.5 percent share sa GDP, sa collection natin sa VAT, lalo pa itong ibaba
sa 8 percent para naman din consistent sa current VAT rate sa ASEAN region,” she said.
To date, the proposition stays pending for dialog by the Senate Committee on Ways and Means.
She trusts the opportunity has already come and gone to favor the proposition to counter
the rising expansion rate in the nation which took off to 4.6 percent in May.
Nevertheless Hontiveros and different commentators of the Duterte Administration accuse the execution of the
Tax Reform Law at the surging costs of fundamental merchandise in the nation.
Hence the Department of Finance (DOF) in past cases said it respects any proposition to cut VAT rate in the nation just if VAT exceptions are evacuate.
Additionally far as it matters for him, Senator Juan Miguel Zubiri proposes that the administration should discover intends to help the divisions influenced by the rising swelling rate.
Meanwhile Solid recommendation to government, let us return to look on sustainable power source and e-vehicles, kasi ang mga umaalma mga transport organizations, mga umaalma pasahero at may-ari ng mga sasakyan,” Zubiri said.