A lifelog of a well-travelled single parent who had a life extension in 2000, blogs indiscriminately about her journey through life fulfilling unfinished business and promises that will soon complete her existence...

::House Bill 3555

Sunday, February 13, 2005

Once House Bill 3555 or VAT Restructuring Act is implemented, 2% VAT hike will raise cost of household expenditures by 1.4%. What is 10% or 12% VAT can do to the economy of the Philippines if tax collection is weak? If they failed with 10%, what the poor filipino families expect with 12%? While 12% VAT is definitely a burden to all and Juan dela Cruz will be taxed for the goods, what is the guarantee that those taxes already been paid will go straight to the government in due time?

I sometimes wonder whether this VAT increase is PGMA's some kind of incentive to the business community? Who is the greatest beneficiary of this VAT Restructuring Act?

Guess who are paying the correct taxes? The regular employees who are receiving daily wage and their income taxes are withheld automatically every payday. Aren't the biggest companies VAT-exempted? Instead of implementing VAT hike to all goods, why not let those exempted companies pay 10% VAT instead?

This country is going nowhere...


Posted on February 13, 2005 07:30 PM TrackBack


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Posted by: play texas holdem poker online on August 29, 2005 11:40 PM

you have read about the VAT topic have you? there have been many news about it to much increase is not necessarily needed and that is what i knew more that anything


Posted by: annalou on March 17, 2005 09:53 PM

Please write responsibly. Thank you!









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