Bill Type
Congress Name
Long Title
AN ACT TERMINATING THE VAT-ZERO RATED PRIVILEGE OF INDEPENDENT POWER PRODUCERS, DELETING FOR THE PURPOSE THE INSERTED SENTENCE UNDER SECTION 6 OF REPUBLIC ACT NO. 9136, OTHERWISE KNOWN AS THE ELECTRIC POWER INDUSTRY REFORM ACT (EPIRA) OF 2001
Date filed
September 18, 2002
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 5242, 12th Congress of the Republic | |
| FULL TITLE : AN ACT TERMINATING THE VAT-ZERO RATED PRIVILEGE OF INDEPENDENT POWER PRODUCERS, DELETING FOR THE PURPOSE THE INSERTED SENTENCE UNDER SECTION 6 OF REPUBLIC ACT NO. 9136, OTHERWISE KNOWN AS THE ELECTRIC POWER INDUSTRY REFORM ACT (EPIRA) OF 2001 | |
| SHORT TITLE : Terminating the Zero-Rated Privilege of Independent Power Producers, Amending RA 9136 (EPIRA Law) | |
| ABSTRACT : The VAT-ero rated privilege of Independent Power Producers (IPPs) has deprived the national government of substantial tax revenues, but such taxc privilege never achieved its purpose of lowering electricity rates. There is a pressing need to terminate the VAT-zero rated privilege for the government to collect the much-needed revenues that could somehow ease the huge budget deficit of the country. | |
| PRINCIPAL AUTHOR/S : TEVES, HERMINIO G. | |
| DATE FILED : 2002-09-18 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Calalay (020 ) | 2. Monfort (025 ) |
| 3. Uy (025 ) | 4. Rosales (016 ) |
| 5. Cari (031 ) | 6. Garcia (032 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 00978 | |
| SUBMITTED ON 2002-10-30 | |
| SUBMITTED BY: WAYS AND MEANS | |
| RECOMMENDATIONS: approval | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2002-10-01 | |
| DATE INCLUDED IN OB: 2002-11-12 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2003-03-12 | |
| SPONSORED BY : Teves | |
| DATE APPROVED ON SECOND READING : 2003-09-08 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2003-10-08 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2003-11-19 | |
| HOUSE VOTES: YEAS:166 NAYS:0 ABSTAIN:.0 | |
| DATE TRANSMITTED TO THE SENATE: 2003-11-20 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2003-12-01 | |
| REMARKS : |
Abstract
The VAT-ero rated privilege of Independent Power Producers (IPPs) has deprived the national government of substantial tax revenues, but such taxc privilege never achieved its purpose of lowering electricity rates. There is a pressing need to terminate the VAT-zero rated privilege for the government to collect the much-needed revenues that could somehow ease the huge budget deficit of the country.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.