House To Scrap 12 Percent Vat On Electricity

[stef]

MANILA, Philippines - The House of Representatives will remove the 12-percent value-added tax (VAT) on electricity to bring down the cost of power for consumers and make the country more competitive as an investment destination.“We have to scrap VAT on electricity. At present, our country has the second highest power rates, if not the highest, in Asia. That makes us uncompetitive as an investment location,” Deputy Speaker Arnulfo Fuentebella told the committee on ways and means.The committee, chaired by Batangas Rep. Hermilando Mandanas, conducted a hearing on Fuentebella’s bill to lift VAT on electricity.The bill’s author said removing VAT on power would be a big relief for consumers.He said if VAT were lifted, he hoped that there would be more businesses that would locate in the country.This would result in more jobs and more business activity, which in turn would translate into more revenues for the government, he said.full story here http://www.philstar.com/Article.aspx?articleId=610122&publicationSubCategoryId=63

[ekimswish]

or everyone can start using bio-digesters and buying manure from me?

[Mr Lee]

MANILA, Philippines - The House of Representatives will remove the 12-percent value-added tax (VAT) on electricity to bring down the cost of power for consumers and make the country more competitive as an investment destination.“We have to scrap VAT on electricity. At present, our country has the second highest power rates, if not the highest, in Asia. That makes us uncompetitive as an investment location,” Deputy Speaker Arnulfo Fuentebella told the committee on ways and means.The committee, chaired by Batangas Rep. Hermilando Mandanas, conducted a hearing on Fuentebella’s bill to lift VAT on electricity.The bill’s author said removing VAT on power would be a big relief for consumers.He said if VAT were lifted, he hoped that there would be more businesses that would locate in the country.This would result in more jobs and more business activity, which in turn would translate into more revenues for the government, he said.full story here http://www.philstar....ubCategoryId=63

It appears the government might actually be waking up to the realities that big business cannot survive and do not wish to be in a country with such high power rates. Heck even many people hesitate to move or stay in a country where living costs are getting out of hand. IMO if this passes it will be a win win situation for the country.