The Department of Finance is expected to submit to Congress another version of the first package of its tax policy reform program, this time with a provision retaining the exemption from value-added tax (VAT) of senior citizens as well as persons with disabilities (PWD), Sen. Juan Edgardo “Sonny” Angara said Tuesday.
Separately, Albay Rep. Joey Salceda told a media forum that tax reform must be passed this year to sustain funding for the plan to ramp-up infrastructure spending even as the House leadership was cold to introducing new taxes.
Angara, who chairs the Senate ways and means committee, said that during a recent DOF presentation of the first of its six tax reform packages, the department expressed openness to retaining the VAT exemptions currently being enjoyed by seniors and PWDs. {ad
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