The government has offered to reduce the Value Added Tax (VAT) baseline rate to 12% from 14% if the parliament reduces the number of exempted goods and services, parliament sources told reporters. The currently proposed VAT exemption list includes 52 goods and services, as opposed to 17 for sales tax. The parliament is likely to refuse the offer and will insist on adding even more goods and services, including ginned cotton, vegetable oil and recycled goods, one MP said. Another source claims that MPs will not accept a baseline rate higher than 12%. The government has requested the Planning and Budget committee to postpone discussion on the rate to Sunday to consider its proposal. (Al Borsa)