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IMEE MARCOS PROPOSAL

Ilocos Norte inflation woes prompt VAT suspension plea

By: - Reporter / @MRamosINQ
/ 05:36 AM October 24, 2018

Ilocos Norte Gov. Imee Marcos has expressed concern over inflation’s effects on her province, which the Philippine Statistics Authority said had the highest inflation rate in the Ilocos region.

Marcos, a candidate for senator, said she was supporting a one-year suspension of value added tax (VAT) collection, which she said was a more practical way to ease inflation’s effects on people, especially in her province.

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Residents of Ilocos Norte, she said, have been “really struggling to make ends meet” as a result of inflation.

“We need immediate and meaningful relief from the national government,” Marcos said.

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Freezing VAT on basic goods, oil and energy for a year would be more prudent than lifting the second tranche of excise under the Tax Reform for Acceleration and Inclusion (Train) law, according to Marcos.

Effects outside Metro Manila

“It is really depressing that Filipinos living far from highly urbanized areas are suffering the brunt of inflation, which could have been readily addressed by immediately suspending the VAT for one year,” she said in a statement.

“Suspending the VAT on basic food items, fuel and electricity will directly counteract the strong inflation pressures on these goods,” said Marcos.

She opposed the suggestion of the Makabayan bloc in the House of Representatives to scrap the Train law.

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TAGS: Imee Marcos, Inflation, Train Act, VAt suspension
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