The Planning and Budget Committee will recommend a baseline value-added tax rate of 12% in its report to Parliament, which is due next week, Deputy Committee Chair said. The committee convinced the Ministry of Finance to reduce the tax on cooking oils, television sets and refrigerators, he added. The government has consistently pushed for a 14% rate on the grounds that the exemptions list proposed by the Parliament is already too extensive. Parliament has the power to accept the committee’s recommendation, regardless of Cabinet’s proposed rate, Committee Chair said. (Al Masry Al Youm)