US EditionPublished • loading... • Updated
Reduced VAT for Middle Class Sought in Senate
Proponents say the measures could ease pressure on households as inflation rises, but experts warn broad tax cuts may reduce revenue and miss the poorest.
Summary by Philstar Global
3 Articles
3 Articles
Senator Bam Aquino is pushing for a reduction in the value-added tax (VAT) to 10 percent from the current 12 percent. The bill aims to provide protection to the middle class against the impact of the current oil crisis by reducing taxes on goods and services, including petroleum products. Senate Bill No. 2047 or the VAT Reduction Act filed by Aquino proposes an amendment to the National Internal Revenue Code to implement the VAT reduction. The b…
Coverage Details
Total News Sources3
Leaning Left2Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
Factuality
To view factuality data please Upgrade to Premium
