Malacañang assures consumers E-VAT has mitigating featuresMANILA (1 July 2005) -- The Palace has assured the public that the implementation of the new tax law is imbued with strong mitigating features to cushion its impact on consumers, and will not at all affect the prices of basic commodities.
Press Secretary and Presidential Spokesman Ignacio Bunye made the assurance as the expanded Value-Added Tax (E-VAT) has took effect last night.
Bunye said E-VAT is a load that the nation must carry in order to save the country from more economic misery but pointed out that the government has lifted tariffs and excise taxes on petroleum products to ease the burden of the new tax measure.
"We need revenues that will be generated to build up our coffers, win investor confidence, and generate more jobs, as these will enable us to expand social services, improve the infrastructure, and push vital programs to fight poverty," he added. (PIA-MMIO)
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=89213.0
