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Speaker Martin Romualdez said the law signed by President Ferdinand Marcos Jr., which offers non-resident tourists value-added tax refunds, would be a boon to the tourism sector and domestic commerce. “This piece of legislation will greatly boost international tourism and the sale of goods by tourist-oriented establishments,” Romualdez said. “More tourist arrivals and increased tourist […]
President Ferdinand Marcos Jr. signed Republic Act (R.A.) 12079, known as the “VAT Refund for Non-Resident Tourists,” during a ceremonial signing recently at Malacañan Palace.In his speech, the President emphasized the significance of the law, stating that “shopping has become an essential part of the travel experience”. Marcos noted that in 2023, the Philippine tourism […]
Senator Win Gatchalian said a resetting by the Energy Regulatory Commission (ERC) of the power distribution rate for key distribution utilities (DU), such as the Manila Electric Co. (Meralco), could lead to a higher refund for consumers. The vice-chair of the Senate Committee on Energy made the statement following an estimate made by Meralco that […]
The Senate recently approved on third and final reading the proposed value-added tax (VAT) refund measure for non-resident tourists that would hopefully attract more tourists. With 20 affirmative votes, one negative vote and no abstention, Senate Bill No. (SBN) 2415 or An Act Creating a Vat Refund Mechanism for Non-Resident Tourists, adding a New Section […]
The House of Representatives has unanimously approved on third and final reading a bill that would institutionalize a mechanism to refund customers in case of outages and disruptions with their internet or telecommunications services.Gaining 278 affirmative votes during plenary session was House Bill (HB) No. 9021, dubbed the “Refund for Internet and Telecommunications Services Outages […]
The House Committee on Ways and Means chaired by Albay 2nd District Representative Joey Sarte Salceda approved the unnumbered substitute bill to House Bill 7143, creating a mechanism through which non-resident tourists may refund their value-added tax (VAT). Salceda stressed that the measure is long overdue, noting that the Philippines is the only country in […]
Senator Win Gatchalian commended the Energy Regulatory Commission (ERC) for ordering Manila Electric Company (Meralco) to refund its customers P21.8 billion equivalent to 87 centavos per kilowatt-hour (kWh). This means that for a typical household that consumes 200 kWh a month, there will be a P174 refund in the electricity bill beginning this month. “It […]
A welcome relief amid the rising cost of living was how Senator Win Gatchalian viewed the P7.8 billion refund in electricity bills ordered by the Energy Regulatory Commission (ERC) to the Manila Electric Company (Meralco) for overcharges. “Given its mandate of protecting consumer interest as an independent electric power industry regulator, I laud the latest […]
The Philippine Competition Commission (PCC) is ordering Grab Holdings, Inc. and MyTaxi.PH, Inc. (collectively Grab) to immediately release the remaining P19.3-million refund to eligible users after finding the ride-hailing app’s low disbursement of the refunds from previous fines. After reviewing the compliance reports for previous penalties, the PCC found that only 24.1% of the total […]
Senator Win Gatchalian said a refund should be in order if it will be proven that a violation has been committed by the Visayan Electric Company (VECO) because of its high electricity charges. Gatchalian took note of the January 4, 2021 directive issued by the Energy Regulatory Commission (ERC) to VECO demanding an explanation on […]