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Old September 11th, 2014, 01:07 PM   #941
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Originally Posted by Xeltran View Post


Well, the DOF has a point. The problem kasi is that the lawmakers are only doing this because public clamor has forced them to. You know, typical Pinoy politics. Ang point lang naman ng DOF is that if the tax rates are reduced, Congress might as well pass new revenue measures to augment the loss. The amended Sin Tax Law was a good start. Have a holistic approach. Overhaul the whole Internal Revenue Code rather than doing it piecemeal. Besides, the earliest time that the new tax rates would take effect, if passed this year, will be on 2016 pa rin naman.

Hindi rin pwedeng sabihing the foregone income tax will translate to VAT after household consumption anyway. Afterall, the BIR has a shoddy reputation for collecting taxes and maraming businesses ang creative sa pag-manipula ng balance sheets nila.


I'm not sure what PNoy has been referring to "reforms" in his admin, but what you just pointed out is what and how truly "reform" should be.
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Old September 11th, 2014, 04:17 PM   #942
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You don't get it do you? 43 billion is barely .003 % of GDP in dollar terms. DAP in itself is only 0.6% of our GDP at 106 billion last 2013. Do the math, removing the unnecessary spending of DAP the lost collection is already offset. You even get a surplus of 70 billion. Saan ba napunta ang DAP? Naipit lang sa mga agencies where it was routed to.

The loss in tax coming from middle income earners is negligible.

And besides the added purchasing power will reflect in consumption taxes (EVAT etc).
I was clearly reacting about the views of the representative in the article regarding the "scare tactic" issue, etc and I just ignored your statement about DAP, which you added outside of the quoted article. I was merely talking about the effects of a possible reduction in income taxes, I'm not against it. As what Xeltran pointed out: "Congress might as well pass new revenue measures to augment the loss."

I won't add any possible amount that would be slashed from government revenues since I don't have a study with me. I don't know where the Php43B came but I doubt that amount. Based from previous experience in 1997 tax reform, the government lost more than that.

I agree though that the government should limit the expenses by removing DAP, but this was already declared unconstitutional. So I presume that they would not include it in the next annual budgets. Also, the DAP is merely a realignment of the funds from projects that were already approved by Congress, which means that there wouldn't really be a reduction in expenses because in the first place, it was allotted to some projects in the budget that are important like from airports/ports/roads upgrade, irrigation, etc.

Last edited by le Reine; September 11th, 2014 at 04:29 PM.
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Old September 12th, 2014, 02:33 AM   #943
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Sharon tatakbong Mayor ng Pasay; Dingdong gustong maging Senador


(snipped)

“It’s a 70-30 sa pagtakbo ni Sharon, wait mo lang,” sabi pa sa amin. Dagdag pa aming source, “Kaya dapat umokey na ang kalagayan ni Mommy Elaine (Cuneta) kasi siya ang lakas ni Sharon bukod sa pamilya niya.”

Isa pang nababalitang may planong kumandidato ay si Dingdong Dantes, ayon pa sa nakausap namin. Binanggit sa amin na Senador daw ang target ni Dingdong bagay na ikinagulat namin dahil masyado naman yatang mataas ito, bakit hindi muna siya mag-umpisa sa mas mababa para hindi siya batikusin ng taumbayan.

(snipped)


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Old September 12th, 2014, 02:55 AM   #944
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Quote:
Originally Posted by le Reine View Post
I was clearly reacting about the views of the representative in the article regarding the "scare tactic" issue, etc and I just ignored your statement about DAP, which you added outside of the quoted article. I was merely talking about the effects of a possible reduction in income taxes, I'm not against it. As what Xeltran pointed out: "Congress might as well pass new revenue measures to augment the loss."

I won't add any possible amount that would be slashed from government revenues since I don't have a study with me. I don't know where the Php43B came but I doubt that amount. Based from previous experience in 1997 tax reform, the government lost more than that.

I agree though that the government should limit the expenses by removing DAP, but this was already declared unconstitutional. So I presume that they would not include it in the next annual budgets. Also, the DAP is merely a realignment of the funds from projects that were already approved by Congress, which means that there wouldn't really be a reduction in expenses because in the first place, it was allotted to some projects in the budget that are important like from airports/ports/roads upgrade, irrigation, etc.
I'm merely citing the size of DAP as a quantitative comparison vs what the government stand to lose from overhauling the income tax rate for wage earners. For obvious reasons the 43 billion cited is just but a fraction of DAP. Another nagging issue is the tax incentive profile of our country which on a yearly basis lose billions. In 2011, it was estimated that the government approximately lost 144B in tax incentives.

What the government should do to improve collection and the current tax regime is to rationalize the current tax incentive landscape for investors. The IMF conducted a study way back that the Tax incentive program of the Philippines is proving to be detrimental to the total tax collection effort and the economy as a whole. In short, oftentimes too lax and too many incentives given to corporate investors but does not have direct impact to FDI and job creation.

As I have always thought about it the tax incentive schemes by the Philippines is too generous to a select few who probably would have invested anyway without the tax incentive and too beyond the reach to key industries that actually matter (not to mention that there are a lot of potential for indiscretion and corruption i.e. loopholes).

An overhaul of the ffg will be required

1) The Omnibus Investment Act (EO 226) - Problem, incentives were still given to companies who do not even qualify within the parameters set of the OIA framework. Questionable screening and selection process by the BOI etc.
2) Export Development Act - not targeted to key growth industries, favors capital rather than job creation.
3) SEZ (The 5 percent across the board tax incentive is too low if you ask me) and some SEZ are being used as a front for smuggling and gambling e.g. Port Irene

In the end who suffers from all these incentives? The regular tax payers. What needs to be done is a simplified, comprehensive and targeted approach similar to what Korea or Malaysia has done.

DOF: Tax incentives cost gov’t at least 1.5% of GDP in 2011

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The government’s revenue loss from the grant of income tax holidays, reduced income tax rates and duty exemptions to investments was revealed to be at least P144 billion in 2011, the initial Tax Expenditures Report (TER) released by the Department of Finance said. This represents a significant loss in revenues: 1.5% of GDP, 9.3% of government’s expenditures, or 10.6% of government revenues in 2011.

These figures are conservative given the report covers only 29% of all investment promotion agency (IPA-) registered firms.

“With the current tax incentives system that has been largely unaccounted and uncoordinated, the government loses billions of pesos in revenues every year which could have helped improve our fiscal position,” Finance Secretary Cesar Purisima said in a bid to push for urgent reforms in the fiscal incentives system.

Last edited by daimengrui; September 12th, 2014 at 03:23 AM.
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Old September 12th, 2014, 03:41 AM   #945
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Garapalan na talaga ang mga artista ngayon...Letse!!
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Old September 12th, 2014, 07:48 AM   #946
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Weh, si Sharon, diba may midlife crisis yan?
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Old September 12th, 2014, 12:17 PM   #947
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For federalism.

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Old September 14th, 2014, 04:30 AM   #948
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anong kabobohan to?


Nationwide no-helmet bill pushed to fight crimes
ABS-CBNnews.com
Posted at 09/13/2014 7:11 PM | Updated as of 09/13/2014 7:32 PM

MANILA -- In an attempt to curb crimes perpetrated by criminals riding-in-tandem, a lawmaker has filed a bill that will prohibit motorcycle riders from wearing helmets.

Zamboanga Representative Celso Lobregat, author of House Bill No. 4438, or the Helmet Ban Bill, said this will give local government units the opportunity to temporarily ban the use of helmets within their jurisdiction.

The proposed bill goes against Republic Act 10054, or the Helmet Law, which requires all motorcycle riders to wear helmets for their protection and safety.

http://www.abs-cbnnews.com/nation/09...d-fight-crimes
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Old September 14th, 2014, 04:53 AM   #949
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kabobohan is an epidemic in the Philippines. somebody find a cure, fast!
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Old September 14th, 2014, 07:55 PM   #950
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Para kasing magnet nangyari sa Metro Manila and NCR sa lahat ng jejemons nationwide, they flock to it. Baka the fastest cure seguro is secession? and the hell we make damn sure our jejemons are prevented from coming back to region 7.
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Old September 16th, 2014, 09:03 AM   #951
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Quote:
Originally Posted by -SNPKLSDMBLDR- View Post
anong kabobohan to?


Nationwide no-helmet bill pushed to fight crimes
ABS-CBNnews.com
Posted at 09/13/2014 7:11 PM | Updated as of 09/13/2014 7:32 PM

MANILA -- In an attempt to curb crimes perpetrated by criminals riding-in-tandem, a lawmaker has filed a bill that will prohibit motorcycle riders from wearing helmets.

Zamboanga Representative Celso Lobregat, author of House Bill No. 4438, or the Helmet Ban Bill, said this will give local government units the opportunity to temporarily ban the use of helmets within their jurisdiction.

The proposed bill goes against Republic Act 10054, or the Helmet Law, which requires all motorcycle riders to wear helmets for their protection and safety.

http://www.abs-cbnnews.com/nation/09...d-fight-crimes

Para atang napalo sa ulo ng MILF 'to nung sumugod sila last year.

Lakas ng amats nitong si Lobregat.
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Old September 16th, 2014, 11:46 AM   #952
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Originally Posted by Christian_123 View Post
Para atang napalo sa ulo ng MILF 'to nung sumugod sila last year.

Lakas ng amats nitong si Lobregat.
Isantabi na natin ang safety ng riders!
Onli in di Pilipins!
Kukonti ang mamatay sa baril, dadami ang mamatay sa disgrasya sa motorcycles, ganun ba ang ibig sabihin niyan? Sabagay, mga mayayaman naman yung binabaril, di bale na ang mga maralita!
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Old September 16th, 2014, 02:23 PM   #953
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ako pinag bawal ko talaga ang helmet sa loob ng shop.
noong na hold up kasi ang shop naka helmet yung dalawa, kaya saftey measures ay ipagbawal ang helmet at motorsiklo sa loob ng shop
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Old September 16th, 2014, 02:45 PM   #954
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Originally Posted by -SNPKLSDMBLDR- View Post
anong kabobohan to?


Nationwide no-helmet bill pushed to fight crimes
ABS-CBNnews.com
Posted at 09/13/2014 7:11 PM | Updated as of 09/13/2014 7:32 PM

MANILA -- In an attempt to curb crimes perpetrated by criminals riding-in-tandem, a lawmaker has filed a bill that will prohibit motorcycle riders from wearing helmets.

Zamboanga Representative Celso Lobregat, author of House Bill No. 4438, or the Helmet Ban Bill, said this will give local government units the opportunity to temporarily ban the use of helmets within their jurisdiction.

The proposed bill goes against Republic Act 10054, or the Helmet Law, which requires all motorcycle riders to wear helmets for their protection and safety.

http://www.abs-cbnnews.com/nation/09...d-fight-crimes
As usual, in the PH avoidance is their only method of problem solving. The real problem are the motorcycle criminals. They should improve their ability and capability instead of blaming the safety helmets. I don't know the current set of lawmakers are getting more stupid by the day. Shows their incompetence and lack of braincells.
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Old September 17th, 2014, 05:09 AM   #955
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Originally Posted by s_w_stars View Post
As usual, in the PH avoidance is their only method of problem solving. The real problem are the motorcycle criminals. They should improve their ability and capability instead of blaming the safety helmets. I don't know the current set of lawmakers are getting more stupid by the day. Shows their incompetence and lack of braincells.
They're politicians. Brains are optional.
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