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Wednesday, April 27, 2005
VAT bill discussions hit deadlock
MANILA -- Senators Tuesday stood by their decision to retain value-added tax (VAT) rates at 10 percent, resulting in a stalemate in discussions of the bicameral conference committee on the controversial measure.
Seven of the eight senators who compose the Senate panel in the bicameral committee agreed to stick to the Senate's version.
With the decision of the Senate panel, the bicameral meeting could not resume because the two panels failed to resolve disagreeing provisions.
The House of Representatives proposed a 12 percent VAT rate or a two-percent increase from the current rate.
The Senate panel said it is thinking of suggesting to the House of Representatives to consider another option--that of giving President Gloria Macapagal-Arroyo the authority to increase the rate.
"We are exploring other options. There is no need to return to the bicameral committee because there is deadlock," said Senator Ralph Recto, chairman of the Senate ways and means committee.
During the Senate panel's caucus, senators discussed extensively the option of giving the President "standby authority" to increase the rate if it is necessary or under certain conditions.
Recto is optimistic the House of Representatives would accept the option together with the 10 percent rate in order to approve the expanded VAT bill. (JPM)
(April 27, 2005 issue)
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