Tuesday, August 16, 2005
Gov't nixes call to delay expanded value tax
MANILA -- Ricardo Saludo, secretary of the Cabinet, said Malacañang has no plans to defer the implementation of the expanded value-added tax (VAT) in view of the soaring prices of crude in the world market.
"Walang ganyan na pinaplano ang gobyerno (The government has no such plans)," Saludo said in a phone patch interview with Palace reporters.
He said what President Gloria Macapagal-Arroyo is busy with is the implementation of measures that would mitigate the effects of the rising price of oil on basic commodities.
Arroyo has ordered all government agencies to reduce their energy consumption by 10 percent, among several conservation measures.
Albay Representative Joey Salceda had asked Arroyo to defer the implementation of the expanded VAT once the Supreme Court (SC) lifts the temporary restraining order (TRO). The issuance of the restraining order was widely criticized by lawmakers.
Finance Secretary Margarito Teves has reportedly said the expanded VAT would continue to be implemented despite high world crude prices. (JMR/Sunnex)
(August 16, 2005 issue)
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