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Instead of suspending the excise tax on fuel next year, Ilocos Norte Gov. Imee Marcos wants to suspend the value-added tax (VAT) on basic commodities, saying that it will benefit more Filipinos. «The suspension of the VAT would provide immediate reliImee Marcos: Suspending VAT on basic commodities will benefit more Filipinos
Instead of suspending the excise tax on fuel next year, Ilocos Norte Gov. Imee Marcos wants to suspend the value-added tax (VAT) on basic commodities, saying that it will benefit more Filipinos. «The suspension of the VAT would provide immediate relief to Filipino consumers. Given the magnitude of prevailing tax rates, the temporary suspension of the VAT on necessities would be immediately felt by millions of Filipino families,» Marcos said in a statement on Sunday. «Suspending the VAT on basic food items, fuel and electricity will directly counteract the strong inflation pressures on these goods,» she added. Earlier, the governor called for the immediate one-year suspension of ...Keep on reading: Imee Marcos: Suspending VAT on basic commodities will benefit more Filipinos Read more