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Thursday, May 26, 2005
DTI launches Evat campaign
By Stephen Capillas
THE National Government will intensify its education campaign for the Expanded Value-Added Tax (EVAT) following its signing into law by President Gloria Macapagal Arroyo last Monday.
Trade and Industry Secretary Juan Santos said this following yesterday's visit to the public markets in Cagayan de Oro for the installation of the price monitoring boards there.
Santos said the installation of these boards doesn't necessarily come in the wake of the EVAT approval though he admitted that these would help provide reference for market vendors on the current existing prices for basic and prime commodities.
"Though the price monitoring boards would help guide and reference both vendors and customers on the prices of these commodities," Santos said, adding that an information drive is being readied by the agency for this purpose.
The secretary also said the E-VAT law would take effect 15 days after the signing and won't cover some basic and prime commodities at first like rice, noodles, sardines and milk among others.
Santos said there is still some misperception about EVAT especially since there is a grace period given by the manufacturers before they consider whether or not to raise prices for their products.
"There are some commodities like cement which are expected to increase because of their transportation. But then they have committed to waiting a maximum of one year before imposing any price increases," he said.
(May 26, 2005 issue)
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