Philippines Senate Considers Bill to Reduce VAT Rate

The Philippine Senate Nov. 24 accepted for consideration Bill No. 1552, to reduce the standard VAT rate. The bill includes measures to: 1) reduce to 10 percent, from 12 percent, the VAT rate on gross sales of goods, imported goods, the sale or exchange of services, including digital services, and the use or lease of properties; and 2) allow a temporary increase to 12 percent if the projected deficit, as a percentage of GDP, exceeds the specified target for a given year. The law would enter into force 15 days after publication. [Philippines, Senate, 11/24/25]

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