Aquino freezes VAT on toll 08/17/2010

Aquino freezes VAT on toll

08/17/2010 President Aquino went into face-saving as he announced his decision to suspend the imposition of the 12-percent value added tax (VAT) on toll operations as well as the impending 250-percent toll rate increase in the South Luzon Expressway (Slex), a few days after the Supreme Court (SC) made a similar move via temporary restraining order last Friday. Aquino, however, claimed that he already ordered the suspension of these activities that were supposed to be implemented yesterday since last week which is quite unusual because his spokesman, Edwin Lacierda, never mentioned anything about it last week. “On the VAT, actually I’ve put it on hold as of last week. This is still subject of discussion because our first priority is the impending 250 percent (toll rate) increase in the SLEX (but) the initial that we had sough to employ to address that increase is not panning out,” Aquino told reporters yesterday. Presidential Communications Operations Office Secretary Herminio Coloma clarified that Aquino’s decision to suspend these VAT imposition and rate increases in the tollways was not a face-saving move owing to the controversy generated by these policies that his government would like to implement..... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100817hed5.html

HEADLINES ‘Massacre’ at OSG Sequestered networks’ sale queried; ‘Midnight’ IBC deal bared ‘Clueless’ Noy claims to have divested from HLI Comelec seeks P20B for 2013 polls; Senators shocked Aquino freezes VAT on toll Gazmin, ex-PSG men dictating AFP postings — Angue