Philippines BIR Prepares VAT Removal on Electricity System Loss Charge

BIR prepares VAT removal on system loss charge in power bills

MANILA, Philippines — The Bureau of Internal Revenue is preparing a revenue memorandum circular removing the value-added tax on the allowable system loss charge in electricity bills, following the directive of President Ferdinand R. Marcos Jr. to review and clarify tax rules that can provide immediate relief to consumers, Commissioner Charlito Martin R. Mendoza, the bureau

By Alexander Magno