Lawmakers need to take a closer look at the bill filed in the House of Representatives two weeks ago seeking to exempt basic commodities from the 12-percent value-added tax (VAT).
The House bill wants to exempt the following essential items from VAT: bread; sugar; cooking oil; canned pork, beef, fish, and other marine products; instant noodles; biscuit; laundry soap; detergents; firewood; charcoal; candles, and drugs classified as essential by the Department of Health. “Removing the 12-percent VAT on basic goods consumed by poor families on a regular basis will dramatically ease their economic suffering amid skyrocketing prices, massive joblessness, and depressed wages,” according to Brosas.
Source: opinion.inquirer.net
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