Vice Ganda Promotes Senator Bam Aquino’s VAT Reduction Plan
VICE GANDA – The television host-comedian highlighted, on the program It’s Showtime, a legislative proposal by Senator Bam Aquino that seeks to lower the Value-Added Tax (VAT) in the Philippines.
During a game segment, Vice Ganda explained to a contestant that the senator’s Senate Bill No. 2047 aims to reduce VAT from 12 percent to 10 percent as a way to help the middle class cope with rising living costs. He also took the opportunity to ask a light question about the meaning of VAT, which the contestant was unable to answer correctly. VAT refers to a tax added to goods and services that consumers regularly pay without always noticing it.
Vice Ganda praised the proposal, saying it could help make everyday products and services more affordable, including fuel and other essential goods. He noted that reducing VAT would likely ease financial pressure on ordinary citizens, especially at a time when prices continue to rise due to economic challenges and global issues affecting fuel costs.
“Si Senator Bam Aquino, maganda tong naisip niya. Iyong nag-file siya ng Senate Bill 2047 that seeks to reduce VAT on goods and services, including petroleum products. ‘Di ba? Makakabawas-bawas. Maganda ‘yan,” he said.
Senator Aquino’s proposal is designed as a long-term solution to help protect the middle class from the effects of economic crises, including instability in global oil supply. He emphasized that many middle-income families do not receive government aid but still carry a heavy tax burden, making them especially vulnerable to price increases in basic goods.
In addition to this bill, Aquino has also supported measures related to fuel taxes. He co-authored and co-sponsored a law granting emergency powers to adjust or suspend fuel excise taxes when needed. He also filed a separate proposal seeking the removal of excise taxes on diesel, kerosene, LPG, fuel oil, and gasoline under the TRAIN Law.