Garin: Removing fuel VAT to cost gov’t P170B yearly

Department of Energy Secretary Sharon Garin said the government could lose around P170 billion annually if the value-added tax (VAT) on petroleum products is removed.

Speaking at a press briefing with the Malacañang Press Corps on 10 April, Garin emphasized that the VAT is mandated by law and can only be repealed through legislation passed by Congress.

Garin also said the government is taking advantage of the ongoing two-week ceasefire in the Middle East to ensure the safe passage of people, goods and Philippine vessels.

She added that the Department of Foreign Affairs has reported an increase in returning overseas Filipino workers, as well as incoming shipments, including cargo carried by foreign vessels importing goods.