Filtered By: Money
Money

Palace: DTI to watch vs tollway VAT 'profiteers'


When the government starts implementing a 12-percent value-added tax (VAT) on expressway toll services on October 1, the Department of Trade and Industry (DTI) will watch for profiteers exploiting the situation. Deputy presidential spokesperson Abigail Valte said the DTI will monitor prices of basic goods, especially those brought to Metro Manila via the North and South Luzon Expressways (NLEX and SLEX). “The DTI will be monitoring the prices. Alam ng DTI ano ang magiging impact sa basic goods and services. Titingnan nila kung may magtataas nang sobra," she said on government-run dzRB radio. She said Bureau of Internal Revenue Commissioner Kim Henares had cited an example where eggs delivered by a truck along the SLEX will incur an added cost of less than one centavo. Valte noted Henares even presented this explanation to transport groups questioning the VAT on expressways. The government said the 12-percent VAT on the NLEX and SLEX service fees can generate at least P3 billion in revenues a year. Earlier, Valte said the Palace is not keen on supporting a bill in the House of Representatives seeking to exempt the expressway toll from the VAT. — LBG, GMA News

LOADING CONTENT