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Noy studies removal of Seniors’ eVAT exemptions 09/09/2010

Thursday, September 9, 2010

Noy studies removal of Seniors’ eVAT exemptions
09/09/2010
What Congress giveth the elderly, the Palace taketh way?

In an attempt to generate revenues without sacrificing a populist move of not imposing new taxes, Malacañang yesterday confirmed it is studying proposals to remove the value added tax (VAT) exemption currently being enjoyed by the elderly through the enactment of the Expanded Senior Citizens Act (ESCA).
Presidential spokesman Edwin Lacierda told reporters yesterday that the Aquino administration so far has not taken any position on the matter because the proposal is still at the level of Finance Secretary Cesar Purisima.

Lacierda said the measure was communicated to them by Sen. Sergio Osmeña III during the budget hearing Tuesday but he indicated that this particular idea has not yet been seriously discussed by the government.

“It was Senator (Serge) Osmeña who suggested removing the VAT exemption and instead increasing the discounts for the senior citizens. Secretary Purisima answered that we will study the matter but we have no position on that yet,” Lacierda told reporters at a news conference.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20100909hed6.html

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