21 November 2005
EVAT forum set Nov. 29 in city
A PUBLIC forum on the expanded value added tax (EVAT) will be held on Tuesday, November 29 from 1 to 5 p.m. at the Leisure Coast Resort in Bonuan Binloc, Dagupan City.
Assistant Regional Director Romeo Y. Buan of the Bureau of Internal Revenue said top officials of the bureau and partner agencies – departments of finance, trade and industry, agriculture, and energy – will conduct the tax forum for the benefit of the general taxpaying public and the small and medium enterprises in Region 1.
Registration for the forum is free.
Discussions will revolve on salient features of the VAT reform law (Republic Act 9337), its impact on the government’s macroeconomic and fiscal objectives, and its specific effects on basic needs like food, energy and other commodities.
A VAT clinic will also be conducted by the BIR to answer queries on compliance requirements, he said.
EVAT aims to expand the tax base, generate substantial incremental revenues, help reduce the fiscal deficit and ensure debt sustainability in the medium term, Buan explained.
The VAT reform law mandates that a portion of the incremental VAT revenues be earmarked for education, health, environment, and agricultural modernization. It also seeks to minimize the impact of the law on the poor by exempting basic commodities and socially sensitive products from VAT, and by mandating the implementation of mitigating measures, he added. – (DOS/PIA)
Assistant Regional Director Romeo Y. Buan of the Bureau of Internal Revenue said top officials of the bureau and partner agencies – departments of finance, trade and industry, agriculture, and energy – will conduct the tax forum for the benefit of the general taxpaying public and the small and medium enterprises in Region 1.
Registration for the forum is free.
Discussions will revolve on salient features of the VAT reform law (Republic Act 9337), its impact on the government’s macroeconomic and fiscal objectives, and its specific effects on basic needs like food, energy and other commodities.
A VAT clinic will also be conducted by the BIR to answer queries on compliance requirements, he said.
EVAT aims to expand the tax base, generate substantial incremental revenues, help reduce the fiscal deficit and ensure debt sustainability in the medium term, Buan explained.
The VAT reform law mandates that a portion of the incremental VAT revenues be earmarked for education, health, environment, and agricultural modernization. It also seeks to minimize the impact of the law on the poor by exempting basic commodities and socially sensitive products from VAT, and by mandating the implementation of mitigating measures, he added. – (DOS/PIA)
