Former Secretary for Internal Affairs Benhur Abalos stated that the removal of the value-added tax (VAT) on electricity could create more opportunities for business, help create new jobs, and improve the overall quality of life for Filipinos. He noted that despite the potential loss of government revenues, eliminating this tax brings significant benefits to the country's economy.
"I once became the initiator of a bill to remove the VAT on electricity for two years because we are second in the cost of this resource in Asia after Singapore," Abalos noted.
In light of his participation in recent elections for senators, Abalos stated that if he is elected, he will submit a bill for the complete removal of VAT on electricity since this, in his opinion, facilitates the development of entrepreneurship and overall economic growth. Despite the potential loss of revenue, the senator intends to use his full authority for more effective control over the actions of the government and to protect business interests.
"We need to facilitate the development of manufacturing and other sectors of the economy, but how is this possible if energy prices are so high? The removal of the tax will help create new jobs and improve people's lives," he emphasized.
Abalos, former mayor and congressman of Mandaluyong, as well as the chairman of the DDB, also noted his willingness to combat the problem of drug abuse and other long-term challenges facing the country.
