Bill Type
Congress Name
Long Title
AN ACT ALLOWING THE DEDUCTION OF TWENTY-FIVE PERCENT (25%) OF VAT PAYMENTS FROM THE INCOME TAX OF FIXED INCOME EARNERS, AND FOR OTHER PURPOSES
Date filed
August 27, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB03012 |
| FULL TITLE : AN ACT ALLOWING THE DEDUCTION OF TWENTY-FIVE PERCENT (25%) OF VAT PAYMENTS FROM THE INCOME TAX OF FIXED INCOME EARNERS, AND FOR OTHER PURPOSES |
| ABSTRACT : The author explains that RA No. 7716, the Expanded VAT, is inequitable and favors only the businessmen, but has adversely affected the fixed income earners who have NO INPUT VAT advantage. This proposal seeks to correct this inequity imposed on Filipino consumers. |
| PRINCIPAL AUTHOR/S : GOLEZ, ROILO S. |
| DATE FILED : 1998-08-27 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 1998-09-02 |
Abstract
The author explains that RA No. 7716, the Expanded VAT, is inequitable and favors only the businessmen, but has adversely affected the fixed income earners who have NO INPUT VAT advantage. This proposal seeks to correct this inequity imposed on Filipino consumers.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.