Change is coming: ‘Exact change’ law awaits Aquino signature
INQUIRER FILE PHOTO/ JOAN BONDOC
Change is coming? Failure to give the exact change to consumers could cost you a penalty once this bill becomes a law.
A proposed law penalizing business establishments for failing to give exact change to customers await the signature of outgoing President Benigno Aquino III.
The proposed “Exact Change Act” was ratified by Congress and sent to Malacañang for the President’s signature.
The bill considers illegal the act of any business establishment to give insufficient change or no change at all to consumers or customers, even if the change is a small amount.
The bill also prohibits business establishments from giving change in any other form like candies, etc.
It also prohibits the manager or staff of any business establishment to ask permission from the consumer or customer to be spared from giving change because of lack of coins or bills.
The bill also requires business establishments to put signs in every counter that read “Demand your exact change.”
Taxes on price tags
The proposed measure requires business establishments to put price tags of the exact retail price which includes the taxes on the product or service.
Business establishments are also required to put up signs indicating the taxes incorporated in the retail price.
The proposed measure gives power to the consumer to file a complaint against errant business establishments to the Department of Trade and Industry (DTI) not more than 10 working days after the alleged violation was committed.
The department is tasked to conduct an investigation and issue a notice to the establishment not more than 10 working days after the complaint was submitted. It is tasked to issue its decision and findings not more than 30 days after receiving the complaint.
The proposed law outlines the following penalties: a P500 fine or three percent of the gross sales of the business establishment on the day of the violation; P5,000 fine or five percent of the gross sales of the business establishment on the day of the violation; P15,000 fine or seven percent of the gross sales of the business establishment on the day of the violation, and suspension for three months of the license to operate of the business establishment for the third offense; and a P25,000 fine or ten percent of the gross sales of the business establishment on the day of the violation, and the revocation of the license to operate of the business establishment for the fourth offense.
The DTI is tasked to launch an education campaign to inform consumers of their right to be given exact change in the proposed law.
The department is also tasked to regularly publish a list of the establishments which violate the exact change policy. CDG/rga
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