An Act Temporarily Suspending or Reducing the Imposition of Value-Added Tax (VAT) on Petroleum Products, Amending for the Purpose the National Internal Revenue Code of 1997, as Amended, and for Other Purposes
The proposal would let the President temporarily stop or lower the 12 % VAT on gasoline, diesel and other fuels when oil prices are very high, for up to six months at a time (no more than a year total), after which the normal tax rate would automatically return.
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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SBN-2043 · Sources: BatasWatch
Similar in what they’d do, filed by any lawmaker.