MANILA, Philippines --- Albay 2nd District Rep. Joey Salceda has warned the public that proposals for value added tax (VAT) exemptions on some basic commodities would only weaken the peso further. Salceda, chairperson of the House of Representatives ways and means committee which tackles taxation matters, also noted in a statement that some of the products mentioned by the Makabayan bloc's proposal are already VAT-exempt like sugar, beef, fish, salt, charcoal, and firewood. Only canned goods, bread, biscuits, soaps, and candles were not yet VAT-exempt under the said proposal. However, he said that including these in the VAT exemptions would cause a deficit --- and if the government...
Keep on reading: Salceda warns: Makabayan’s bid to scrap VAT of some goods may weaken peso further
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Keep on reading: Salceda warns: Makabayan’s bid to scrap VAT of some goods may weaken peso further
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