Latest news with #BenhurAbalosJr.
Filipino Times
02-04-2025
- Business
- Filipino Times
Abalos vows to remove e-VAT to lower electricity cost; create more jobs for Filipinos
Former Interior Secretary and senatorial candidate Benhur Abalos Jr. has promised to push for the removal of the expanded value-added tax (e-VAT) on electricity to help reduce power bills and create more job opportunities for Filipinos. Abalos said high electricity costs make it difficult for businesses to thrive in the country. By scrapping the 12-percent e-VAT on electricity, he believes more companies will invest, leading to increased job creation and economic growth. 'I will file a bill na tanggalin, at the very least, yung e-VAT sa kuryente. Bakit? Once matanggal mo yan, dadami ang mga kompanyang papasok,' Abalos said in an interview with ABS-CBN News. 'How can you promote manufacturing and other kind of things kung doon pa lang sa kuryente, talo ka na,' he added. For illustrative purposes only With the 12-percent VAT, a household consuming 200 kWh at P12.29 per kWh pays a total electricity bill of P2,752.98. Without EVAT, the bill drops to P2,458.02, saving nearly P300 each month. While he acknowledged that removing the tax could mean revenue losses for the government, Abalos said the economic boost from increased business investments and job creation would more than make up for it. 'May kapalit 'yan. Dadami naman ang ibang klaseng negosyo. Dadami ang trabaho sa tao, at magiginhawaan aNg tao,' Abalos has consistently opposed VAT on electricity. As a congressman in 2005, he voted against its implementation, warning that it would drive up inflation and increase the financial burden on Filipino consumers. After the e-VAT law was passed, he immediately filed a resolution seeking a two-year suspension of VAT on electricity and fuel, arguing that it would help ease financial strain on both businesses and households. If elected senator, Abalos vows to continue this fight, pushing for legislative reforms that will lower power costs and create a more business-friendly environment for the country.
Filipino Times
26-03-2025
- Business
- Filipino Times
Benhur Abalos pushes for affordable homes for OFWs abroad
Former Mayor of Mandaluyong City and former Interior Secretary Atty. Benhur Abalos Jr. is advocating for a housing program that will make it easier for Filipino workers abroad to own homes when they return to the Philippines. During his recent visit to Singapore, Abalos engaged with Filipino workers, discussing their challenges, particularly in securing affordable housing upon their return. Abalos said he recently spoke with Secretary Jerry Acuzar of the Department of Human Settlements and Urban Development (DHSUD) to propose reserving a portion of government housing projects exclusively for OFWs. As of the latest records, there are an estimated 2.16 million registered OFWs. Last year, personal remittances from OFWs hit an all-time high of over USD38 billion. Abalos emphasized the vital role Filipino workers play in the Philippines' economy, particularly through their remittances. However, he noted that despite their financial contributions, many returning workers struggle to afford homes. Abalos suggested offering OFWs the opportunity to pay for their homes through affordable installment plans. He also underscored that housing initiatives in the Philippines should benefit not only local residents but also overseas workers. In 2023, Abalos attended the Philippine Property and Investment Exhibition (PPIE), the biggest, longest-running, and most trusted Philippine investment event in the Middle East. During the event, he discussed the government's efforts to promote transparency, good governance, and ease of doing business, aiming to create a better environment for investors and property buyers, including Filipino workers looking for housing opportunities.
