MANILA, Philippines – Batangas 1st District Representative Leandro Legarda Leviste has filed House Bill No. 4302 to lower the Value-Added Tax (VAT) to 10% and moved on Wednesday that this be at the top of the agenda of the Ways and Means Committee for the 20th Congress.
Leviste made the motion during a Ways and Means Committee hearing with the Department of Finance (DOF) on priority tax measures.
Leviste is vice chairman of the House Ways and Means Committee, which handles the financial affairs of the national government, including taxation.
“I move that we put lowering the VAT at the top of the agenda of the Ways and Means Committee of the 20th Congress. In line with this, I have filed a bill to reduce the VAT to 10%, which could reduce VAT collections by P200 billion or an average of P7000 per household per year. How we will offset these foregone revenues can be the subject of further discussions, but we should have the options by our next meeting, and we should pass the bill lowering the VAT by the end of this year,” he said.
Leviste asked House Ways and Means Committee Chairman Miro Quimbo, “Mr. Chair, can we get your best effort that the Ways and Means Committee will pass a bill to lower the Value-Added Tax to 10% by the end of this year?
“You will have our super best effort,” Quimbo answered.
“Lowering the VAT is a more efficient way to give Filipinos more disposable income, increasing consumption and our country’s GDP, and I believe that the vast majority of our constituents will benefit from replacing Value-Added Taxes with more progressive measures,” Leviste added.
House Bill No. 4302 gives Congress flexibility on how to offset the foregone VAT revenues, and instead provides that the President, upon the recommendation of the Secretary of Finance, can decide on the implementation of the reduction in VAT based on the country’s deficit-to-GDP ratio.
Salamat naman at now me isang congressman na nakinig.. Oks to si billionaire congressman Leviste na batambata.., pero yung solar company nito sa batangas, hindi kami binayaran sa small items na nadeliver namin nung pandemic na worth 15,000 pesos lang, hahaha, wala daw pambayad sabi ng accounting tuwing nagfofollow up kami, pero lagi mo mababasa sa news me billion pesos solar project sila.. kaya ang sakit! hhahaha congressman beki nemen.. hehehe
if small supplier ka, napakahirap magcollect if ang company is pagaari ng politiko, ewan ko ba kung bakit? me konti rin kami nadeliver dati sa makati sa mga mining companies na pag-aari din ng mga politiko na mga small items lang, mga nasa 10,000 pesos lang, sobrang barya lang sa kanila. pero hindi na rin nakolek sa sobrang hirap magcollect.. lugi pa sa pamasahe kaya naggiveup nalang ako ikolek at sumumpa na iiwas na sa mga clients na mining companies na pag-aari ng mga politiko, unless advance payment..
pero yung ibang BPO company/mga call centers na makati / NCR based, masarap maging clients. kahit maliit lang ng order nila na mga special items lang kasi hindi naman sila factory na nagsosolder, masarap parin maging clients kasi ontime magbayad, at online transfer nalang. hindi ka na mahihirapan magkolek..
anyway, Noon pa natin sinasabi at ng karamihan, instead of puro ayuda ayuda na hindi ka naman din sure if napupunta nga sa dapat mapuntahan, its about time to lower the 12% VAT ni recto to 10% VAT...
malaking bagay sa mahihirap yung 2% less vat , pra lahat makinabang.. Everyday you pay tax even if you are not aware of it in terms of that 12%VAT.. Kumain sa jolibi me 100 pesos, 12pesos agad yung tax mo sa gobyerno. manood ka ng tv, bayad ka VAT sa kuryente, everyday 12% Tax.. hahaha
Secretary Recto its about time to correct your huge mistake during the time of PGMA..
if mapush thru ni cong leviste tong batas to lower the 12%Vat to 10% vat, iboboto ko tong presidente ! kasi ibig sabihin nag iisip itong tao nato at talagang me malasakit sa bayan!
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**The Philippines has the highest VAT in Southeast Asia at 12%, compared to approximately 11% in Indonesia, 10% in Vietnam and Cambodia, 9% in Singapore, 7% in Thailand and Laos, 6% in Malaysia, 5% in Myanmar, and 2.5% in Timor-Leste.
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ref:
https://newsinfo.inquirer.net/2104283/rep-leviste-lowering-vat-to-10-should-be-top-tax-bill-in-20th-congress
