An Act Granting the President of the Philippines the Power to Lower the Rate or Suspend the Imposition of Value-Added Tax on Petroleum Products for a Limited Period of One (1) Year in Times of National Emergency or State of Calamity, Amending for the Purpose Sections 106 and 107 of the National Internal Revenue Code, as Amended
The bill would let the President temporarily cut or cancel the 12 % VAT on gasoline, diesel and other fuel products for up to one year when a national emergency or calamity is declared, while keeping excise taxes unchanged.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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SBN-120 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.