Suspend 12% VAT on petrol - Sen. Roxas

Sunday, December 16, 2007 | posted in | 0 comments

In a bid to provide relief against the continuing rise in prices of oil products, Senator Mar Roxas on Friday said that he wants the 12 percent value-added tax (VAT) on petroleum products suspended for at least six months.

Roxas' proposal was contained in Senate Bill lNo. 1962 which was filed a day after a nationwide transport strike against the continuing rise in oil prices.
Ito, simple lang. I-suspend lang natin ang pagpataw ng VAT sa produktong petrolyo, kaginhawaan agad ito, at sa ganoong paraan, makakatulong tayo sa ating mga kababayan. Kung ang diesel ay P38.45 kada litro, P4 na katipiran ang maibibigay natin kaagad," he said.
The senator pointed out that when VAT was imposed, the price for crude oil stood at $50 per barrel.


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