An Act Exempting The Sale Or Importation Of Petroleum Products And Sale Of Electricity From The Value Added Tax, Amending For This Purpose Sections 108 And 109 Of The National Internal Revenue Code Of 1997, As Amended

• This proposed measure seeks to restore the VAT exemption on the sale or importation of petroleum products and sale of electricity.
• Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law imposes additional excise tax on petroleum products, and just like the VAT, it has the effect of increasing the prices of goods and services.
• The increased excise taxes and the imposition of VAT on petroleum products are too much of a burden on the consumers. To mitigate such burden, it is high time to restore the VAT exemption of petroleum products and electricity.