|
Wednesday, May 31, 2006
Dad seeks e-VAT law amendments
SENIOR citizens should be exempt from the coverage of the 12 percent value-added tax, Councilor Galo Weygan said on Tuesday.
Weygan issued the statement as he pointed out that since the implementation of the expanded value-added tax (e-VAT) early this year, the 20 percent discount granted to senior citizens have practically been set aside because elders are not exempt from the coverage of the reformed taxation.
"The imposition of the 12 percent e-VAT on goods and services given to senior citizens has practically negated the 20 percent discount resulting in the diminution of the 20 percent to only 10.8 percent," he said.
He cited in his proposed resolution that a P100 worth item, if given a 20 percent discount, would amount to P80. But once computed using e-VAT, the overall discount would only amount to P10.80.
Weygan said this occurrence was apparently overlooked when amendments to the VAT was proposed, studied, approved, and signed into law.
He also asked Senator Juan Flavier and Baguio City Representative Mauricio Domogan to initiate proposed amendments to e-VAT. (RO)
(May 31, 2006 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
|
