date:Jul 29, 2013
e partysources and two other lawmakers said.
Many basic foodstuffs could, however, be moved from a zerorate of VAT to a formal exemption, saving the governmentbillions of pesos a year by closing a loophole that allowsproducers to reclaim VAT on production costs, said Tomas Torres,a member of the lower house finance committee who is a lawmakerwith the Green Party, a PRI ally.
The reform will seek to suppress special tax regimens, totax stock market operations and move from zero rates (of VA