Ilocos Norte Governor Imee Marcos batted for the five-year suspension of the Value Added Tax (VAT) in order to address inflation.
Speaking in a press conference in Cebu City on Saturday, Marcos said that although the economic managers of the Duterte administration are competent and well-qualified, she believed there was still room for other “radical ideas.”
“As we know VAT imposes 10-12 percent tax on everything that we buy, on all services that we buy. Napakabigat noon sa pagkain. Dahil sa pagkain na nagtataasan, yung mahihirap, halos 60 percent nang income nila napupunta sa pagkain,” Marcos said.
(Because of the rising prices of food, the poor spends 60 percent of their income on food.) Marcos said the VAT on petroleum products should also be suspended in order to bring down the cost of transportation for both the public and businesses.
Marcos, meanwhile, refused to comment the conviction for graft meted on her mother Imelda Marcos by the Sandiganbayan.
“No comment. I’ll give it to the lawyers,” said Marcos.
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