A LAWMAKER has renewed his call for the passage of measures, including a bill reducing the value-added tax (VAT) to 10 percent from 12 percent, after another round of fuel price increases this week raised concerns over higher consumer prices.
In a statement, Senator Bam Aquino said the expected rise in petroleum prices, triggered by renewed tensions between the United States and Iran, would likely push up the cost of transportation, basic goods and other essential services, underscoring the need for immediate measures to ease the burden on Filipino households.
Among the proposals he urged Congress to prioritize is Senate Bill 2047, which seeks to reduce the VAT rate to 10 percent, including on petroleum products. He also renewed his push for Senate Bill 265, which would abolish
excise taxes on diesel, kerosene, liquefied petroleum gas (LPG), fuel oil and unleaded gasoline imposed under the Tax Reform for Acceleration and Inclusion Law.
“Kailangan natin ng agarang pagkilos upang mapagaan ang epekto nito: ibaba ang VAT mula 12 percent tungong 10 percent, imbestigahan ang patuloy na mataas na singil sa kuryente, at tanggalin ang
excise tax sa produktong petrolyo,” Aquino said.
(We need to take immediate action to lessen its impact: reduce the VAT from 12 percent to 10 percent, investigate the persistently high electricity charges, and remove the excise tax on petroleum products.)
He also reiterated support for other pending measures under his “Panukalang Batas para sa Abot-Kayang Pamumuhay” agenda, including a P200 daily wage increase for private sector workers, the removal of VAT on electricity, a higher income tax exemption threshold, higher salaries for government nurses and public school teachers, standardized compensation for barangay workers, a P1,000 monthly social pension for qualified senior citizens, the abolition of travel tax for Filipinos and Asean travelers within the region, and a voluntary profit-sharing scheme between
employers and employees.
Aquino said the reforms should no longer be delayed, arguing that every postponement further increases the financial burden on Filipino families facing rising living costs. / KOC