The Senate will extend its session hours this week as senators were expected to continue debating on amendments to the comprehensive tax reform bill.
Senate President Aquilino Pimentel III said the chamber would hold sessions at 10 a.m. today, adding that senators were all willing to start in the morning, especially this week.
“We will play it by ear,” Pimentel said.
Sessions last week saw senators debating and voting on specific amendments to the proposed Tax Reform for Acceleration and Inclusion (Train) that Malacañang wants passed along with the proposed 2018 national budget before Congress goes on recess on Dec. 15.
Congress has only nine session days to work on the two measures certified as urgent by President Duterte.
Sen. Panfilo Lacson said on Sunday that he was frustrated that his proposed amendment in the Train bill to lower the value-added tax (VAT) from 12 to 10 percent and to lift VAT exemptions failed to get the support of his fellow senators.
Breather
Lacson lost the vote that would have seen the government collecting P117 billion at a 10-percent VAT rate and lifting special laws on several VAT exemptions.
In a radio interview, Lacson said he had pushed on Thursday to lower the 12-percent VAT rate to 10 percent and to lift some of the 143 VAT exemptions, as an amendment to the Train bill.
He said this was in order to give people “a breather” and that the lifting of 78 VAT exemptions could generate P117 billion for the government.
Lacson said many enterprises had been enjoying VAT exemptions since 2000 as well as tax holidays and other perks.
The Philippines has the highest VAT, and even VAT exemptions, in Asia, according to Lacson.
But he said he lost the vote on his bid for VAT zero rating on certain industries as he acknowledged that his colleagues had their own “advocacies” in this matter.
“So I decided it would be a waste of time to pursue my other amendments to remove exemptions,” Lacson said.
But he said the Senate was still pushing for the lifting of VAT exemptions from very select businesses and services.