Senator Imee Marcos believes that current Energy Regulatory Commission chairperson Agnes Devanadera deserves consideration for the Energy secretary post, lauding her proposal to remove VAT from power generation charges. | GabrielLaluINQ
The older Marcos said that Devanadera’s suggestion to remove VAT from power generation charges is in line with her proposals under Senate Bill No. 219 — which she believes is long overdue.
“Removing the VAT on electricity charges will benefit not only household and commercial end-users. It will also make the Philippines more attractive to foreign investors who balk at the country’s high power rates, arguably the highest in Asia,” she added. As of now, all of the electric bill’s components — except for universal fees and feed-in-tariff allowance charges — have been subjected to VAT. This means that generation, transmission, distribution, and even the fuel used by some power generation companies have an additional 12 percent charge due to VAT.
“This should be considered because it has an immediate impact on customers, especially those with monthly consumption of 200 kilowatt-hours and below. It translates to a discount of as much as P100,” the ERC chief told reporters in a virtual media roundtable.According to Sen. Marcos, placing VAT on only one component would ease the load on consumers, especially with oil prices increasing as an offshoot of the Russia-Ukraine conflict.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Imee Marcos soars high on TikTok“It feels so great to connect with the younger generation through the platform of TikTok,” says Imee. “I was very hesitant at first to start a TikTok account but I eventually got the hang of it and realized how fun it actually is. TikTok is-- Read more👇
Read more »
Imee tells DOF: Iron out kinks in on-site work, WFH policySenator Imee Marcos on Friday urged the Department of Finance (DOF) to "iron out" the inconsistencies in its on-site work and work-from-home policy.
Read more »
Imee tells DOF: Iron out kinks in on-site work, WFH policySenator Imee Marcos on Friday urged the Department of Finance (DOF) to "iron out" the inconsistencies in its on-site work and work-from-home policy.
Read more »
BBM’s 7 major problemsMarcos Jr. has seven major challenges: • Jobs. 3 million a year • Food shortages • Runaway inflation • Debts. P12.6 trillion. • Ukraine war effects • COVID • Investments more columns 👇
Read more »
Petitioners should wait after proclamation before moving vs. Marcos, lawyer saysThe legal counsel of presumptive president Ferdinand "Bongbong" Marcos Jr. said Friday petitioners who want to move against a Marcos presidency would have to wait after the proclamation.
Read more »
Singapore welcomes Marcos win, invites him for state visit“Singapore and the Philippines share a warm and longstanding relationship, underpinned by strong economic cooperation and robust people-to-people ties,” Read more👇
Read more »