A BILL seeking to exempt key commodities from value-added tax (VAT) carries the risk of weakening the peso by calling into doubt the government’s capacity to meet its obligations, a senior legislator said.
Mr. Salceda was responding to the Makabayan bloc-sponsored House Bill 5504, which seeks to remove VAT sales of basic food commodities like bread, canned goods, instant noodles, biscuits, sugar, oil, salt, candles and drugs.
Source: bworldonline.com
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