- The Philippines Senate is considering legislation to exempt electricity and internet services from value-added tax.
- The legislation was proposed by Senate Majority Leader Francis Tolentino to reduce costs for households and businesses.
- The measure is included in Senate Bill No. 2970.
- The legislation would amend the National Internal Revenue Code of 1997 to exempt sales of electricity by generation, transmission, and distribution companies, services of electric utility franchise grantees, and sales and services of internet service providers from VAT.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
