In the Philippines, all establishments are required by law (R.A. 7394) to put price tags in every product being sold. By the law's definition, a price tag is a device attached to a commodity stating the price at which it is offered for sale. According to the Department of Trade and Industry,
price tags are compulsary for the following reasons:
- To provide buyers with adequate information and guide to enable them to compare quality and prices of goods and patronize stores selling quality products at low prices.
Its presence will discourage and minimize haggling which is a waste of time, money and energy of both buyer and seller.
It also expedites transactions and enables both the buyer and the seller to use the time and energy for more productive endeavors
A price tag should:
Be clearly written;
State the price of the commodity per unit (piece, kilogram, meter, liter, etc.) in Philippine currency, except when a law or regulation allows consumer products to be sold in foreign currency such as in the case of duty free shops;
Bear no erasures or alterations of any sort.
Failure to comply with the law comes with the following sanctions for the business owners:
The first violation shall subject the person to a fine of not less than Two Hundred Pesos (P200.00) but not more than Five Thousand Pesos (P5,000.00) or by imprisonment of not less than one (1) month but not more than six (6) months or both, at the discretion of the court;
A violation for the second time shall also carry with it the penalty of revocation of business permit and license.
For complaints and to report violations, please contact:
The Department of Trade and Industry
Email (direct from their website) : http://www.dtincr.ph/complaint.php
Phone : (02) 751.3330
Website: I-reklamo (undergoing enhancement and will be online soon)