Sona promise: Lower power bills as VAT on system loss out

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has removed the 12-percent value-added tax (VAT) on system loss charges in electricity bills effective immediately, a move the Department of Energy (DOE) earlier estimated may lower power costs for consumers by about 5 to 10 percent. Under Revenue Memorandum Circular No. 097-2026 published on Monday,