VAT exemption set for approval.

THE SENATE has vowed to pass next year a measure that would exempt senior citizens from the 12% expanded value-added tax (VAT) in medicines, goods and services. Senate Majority Leader Juan Miguel F. Zubiri yesterday said Senate Bill 3561 would be approved on third reading when Congress resumes session on Jan. 18. The bill has been approved on second reading last Dec. 18. Immediately thereafter, he said they would convene a bicameral conference committee to tackle disagreements with House Bill 6218 authored by Cagayan de Oro Rep. Rufus B. Rodriguez. Mr. Zubiri said this is one of the less-controversial measures that needed to be passed since lawmakers would be on "election mode" in …