e-VAT? What the hell is that?
Posted by on May 25, 2005
e-VAT? What the hell is that?
President Gloria Macapagal-Arroyo signed the e-VAT bill yesterday. Formally making it a law.
The e-VAT law or the expanded Value Added Tax law will just be another burdern for every Filipinos. Increasing the usual 10% to 12%? It might be just a few centavos for some, but a really big load for the majority who is way below the poverty line.
Then, imposing taxes on prevoiusly tax-free goods like the LPG, gasoline, and the airline services? My goodness Madam President! I’m starting to have a headache now. What about my usual airline flights? I’m not rich Madam President. I have been working very very hard like a dog. Spending extra hours in the office just to get more when payday comes.
I wouldn’t be surprised come July 1, if the prices of the basic commodities in the supermarket are skyrocketing.
Increasing the VAT is not the ultimate solution to our budget deficit problem. Definitely NOT. There are other ways. Ask the guys from the Internal revenue Department (BIR) if they aware of their tax collection responsibilities.
**Sigh**
