Act Reducing the Value-Added Tax (VAT) from 12% to 10%, Amending for the Purpose Sections 106, 107, and 108 of the National Internal Revenue Code of 1997, as Amended, and for Other Purposes
The bill lowers the national VAT from 12 % to 10 % for sales, imports and services, but lets the President raise it back to 12 % for a year if the projected budget deficit exceeds the target.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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SBN-1552 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.