VAT for public-transport operators mulled

THE Department of Finance is considering the inclusion of public-transport operators in the value-added tax system to enable them to avail of the input-output tax mechanism in view of the proposed lifting of the VAT exemption of petroleum products.

The finance department has proposed the withdrawal of the VAT exemption of the sale or importation of coal, natural gas and petroleum products, as an alternative to the P2 across-the-board hike in the excise tax on petroleum products being pushed by the economic managers.