DTI strictly monitoring impact of 12% Evat
The provincial office of the Department of Industry is now strictly monitoring the various stores and establishments in Pangasinan following the full implementation of the 12 per cent expanded value added tax (eVAT).
DTI Provincial Director Daria Mingaracal said the monitoring is necessary in order to ensure that no businessman would take advantage on the new eVAT rate.
Mingaracal said that she expects no problem with the full implementation of eVAT that started February 1 but confessed that that the implementation of the new eVAT rate is untimely as the price of fuel continues to soar in the world market these days.
The liquefied petroleum gas now costs P530 per cylinder and will increase further because of the implementation of the additional two per cent VAT, she said.
Nevertheless, Mingaracal believes that the two per cent additional VAT will only have minimal impact on the prices of basic goods and commodities, petroleum products and some services.
Local government units are now also coordinating with the DTI in monitoring the movement of prices in their respective jurisdictions.
“They are cooperating with us in order to ensure the protection of consumers against unscrupulous businessmen,” he said.
She warned consumers to be vigilant and alert against businessmen who are exploiting the situation. – AQL
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