Tuesday, October 16, 2018

Gov Marcos: VAT suspension to buy time for PH economy to get back in shape

Oct 5, 2018 @ 13:09

Ilocos Norte Governor Imee Marcos wants poor Filipinos’ Christmas to be happier.

The Ilocos Norte politiko cited this reason for her call for the government for the lifting of the Value-added Tax (VAT) for one year.

Marcos explained that this will help the poor to cope with the continued increase in the prices of basic commodities, fuel, and electricity.

“Removing the VAT would lighten the burden on millions of Filipino households and would make their Christmases a little lighter amidst the high prices,” she said.

“The VAT suspension will run parallel to the anti-inflation measures of the Duterte economic team and Bangko Sentral ng Pilipinas. It will buy time to set our economy back in shape. Wagi ang mahihirap kung mawawala ang VAT kahit isang taon lang; kung walang VAT bababa ang presyo ng pagkain, gasolina, at kuryente,” Marcos added.

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