Palace advice to solons on toll row: ‘Amend VAT law’
By Aytch S. de la Cruz 08/15/2010 Amending the value added tax (VAT) law is the only recourse to stop Malacañang from pursuing the enforcement of the imposition of the 12-percent VAT on tolls nationwide as part of its additional revenue generation measures, the Palace said yesterday after the Supreme Court (SC) issued lat Friday an order to withhold its implementation along with the 300 percent increase in the South Luzon Expressway (Slex) fees. Presidential spokesman Edwin Lacierda said changes in the law is the only remedy to comply with the lawmakers’ advice for President Aquino to carefully pore over the VAT law which did not include tollway fees among those to be charged with the VAT. “If the legislative does not agree with the executive branch, I guess they can, once and for all, amend the law (on VAT) — that would be better,” he said. Lacierda insisted that their intention to impose this 12-percent VAT on toll does not violate any tax laws insofar as their interpretation of the VAT law is concerned, citing as well as the tax reform code which supposedly allows the government to enforce taxes on toll operators. He, nonetheless, reiterated that they would abide by the Supreme Court’s (SC) temporary restraining order (TRO) which compelled the Bureau of Internal Revenue (BIR) to postpone its intended implementation of the 12-percent VAT on toll tomorrow and will just defend their stand on this particular issue in the said forum..... MORE Source: The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100815hed2.html |
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