Malacanang junks Pistons appeal for tax exemption from VAT on oil products By Fernan J. Angeles 02/22/2012

Malacanang junks Pistons appeal for tax exemption from VAT on oil products

By Fernan J. Angeles 02/22/2012

In what appears to be a manifestation that he isnt a wimp leader as he was recently referred to, a tough and confrontational President Aquino literally yesterday shut the doors on calls for the government to seriously consider exempting the public transport system from the value-added tax (VAT) on oil and petroleum products.

Reacting to a query posed by Palace reporters to presidential spokesman Edwin Lacierda, Malacaang turned down an appeal from a national public transport organization, which sought an exemption from the VAT on oil and other petroleum products.

Pinag-isang Samahan ng mga Tsuper at Opereytor Nationwide (Piston) president George San Mateo earlier had cited the need for President Aquino to immediately effect an Executive Order that would exempt the public transport sector from being covered by VAT, amid what has been a series of increases in the pump prices of oil and petroleum products resulting from the unpredictability of the global forces engaged in the production and sale of oil in the Middle East Asia..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/metro/20120222met3.html