6% VAT reduction on electricity rates pushed

6% VAT reduction on electricity rates pushed

A LAWMAKER is pushing to reduce the value-added tax (VAT) on electricity from 12 percent to six percent, noting that the power tax makes the country's electricity rates the third-highest in Asia.In a statement on Thursday, 1Tahanan Party-list Rep. Nathaniel Oducado said that on Dec. 22, he filed House Bill (HB) 6984, which seeks to amend the National Internal Revenue Code to reduce the VAT on electricity passed by distribution utilities, includi…