BIR moves to scrap VAT on system losses

The Manila Times 20 h Philippines

THE Bureau of Internal Revenue (BIR) has to remove the value-added tax (VAT) imposed on system loss charges, targeting the issuance of an implementing order by mid-September. The Energy Regulatory Commission (ERC) has ruled that allowable system loss charges are not part of the gross sales of power firms for VAT purposes, which means a reduction in consumers’ electricity bills. This still re

Aggregated from the leading newsrooms of the country. Every story links to its original source.