MANILA, Philippines --- The Makabayan bloc in the House of Representatives has filed a bill seeking to exempt basic commodities --- such as bread, sugar, and cooking oil --- from the 12 percent value-added tax (VAT). House Bill No. 5504, if enacted, would amend the Tax Reform Act of 1997 and include the VAT exemptions its Section 109. The Makabayan bloc is composed of party-list lawmakers --- Rep. Arlene Brosasn of Gabriela Women's Party, Rep. Raoul Manuel of Kabataan, and Rep. France Castro of the Alliance of Concerned Teachers. The bill specifies the following items to be excluded from VAT: "Sale or importation of basic necessities consumed on a regular basis by poor famil...
Keep on reading: House bill seeks VAT exemption for basic goods
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Keep on reading: House bill seeks VAT exemption for basic goods
from INQUIRER.net https://ift.tt/Ytn02mU
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