Gatchalian seeks lower pass-on power charges

Sen. Sherwin Gatchalian is seeking the immediate passage of a bill, which seeks to lower electricity rates by as much as 15.67 centavos per kilowatt hour through the reduction of charges passed on to consumers by power companies. Senate Bill 1188, or the proposed “Recoverable System Loss Act,” lowers the system loss cap – the…

CTA: PSALM must pay VAT for 2008

THE COURT of Tax Appeals (CTA) has affirmed a division ruling that ordered the Power Sector Assets and Liabilities Management Corp. (PSALM) to pay at least P9.57 billion in value-added tax (VAT) for the year 2008.  In a 14-page en banc decision dated May 17, the CTA voted 8-1 to affirm the Third Division’s Dec….