MANILA, Philippines (Eagle News) — Presidential Spokesman Ernesto Abella said, there is nothing final yet regarding proposals to remove value added tax (VAT) exemptions of persons with disabilities (PWDs) and senior citizens
The finance department wants to lift certain vat exemptions to make up for revenue losses that would result from the lowering of corporate and individual income tax rates. Some lawmakers are against the proposal, which they described as difficult and “too ambitious.”
Abella said the proposal to take away vat exemptions would still be subject to further discussions.