SANTIAGO,ILOCOS SUR. The value added tax that imposes on the penalty of those late payor’s of Ilocos Sur Electric Cooperatives will be a thing in the past as the board of the cooperative approved a resolution removing the vat on penalty.
In the interview of DZTP to ISECO General Manager Ceasar Gironella confirmed that the board of directors had already approve the said resolution. He also said,”beginning this month we will not anymore charge vat on penalty”.
ISECO in the past is charging a six pesos vat on penalty of fifty pesos to the late payer’s.The amount of fifty pesos is the standard penalty prior to the implementation of value added tax.
The proposed abolition of the vat charge on penalty started when the general manager group attended a meeting with the member of the Sanguniang Panglungsod in Candon City, where the legislator asked for the removal. Gironella promised then to them that they will act with the proposal.
