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Old May 7th, 2010, 10:07 AM   #41
296619
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Wow! These guys are simply incredible!! Maybe the ordinary Filipinos can readily afford to absorb these taxes since the remittance money keeps flowing in while allowing the wealthy bastards to get away with it much easier with their reduced income tax rates. 12 to 15%?!?!? Ouch!



Some sort of a role model material.



Grabe, tatasan nanaman ang VAT? paano na mga wlang trabaho? kahit nga yung may mga trabaho hirap na... Grabe... Diba hindi naman iisang beses lang subject to VAT ang one product? pwedeng ma VAT siya many times depende sa dami ng intermediaries. (From Manufacturer to Wholesaler to retailer to final consumer) paano na kung hindi lang iisa yung retailer or wholesaler?.. Grabe... Kawawa mga walang trabaho...
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Old May 8th, 2010, 01:52 AM   #42
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Grabe, tatasan nanaman ang VAT? paano na mga wlang trabaho? kahit nga yung may mga trabaho hirap na... Grabe... Diba hindi naman iisang beses lang subject to VAT ang one product? pwedeng ma VAT siya many times depende sa dami ng intermediaries. (From Manufacturer to Wholesaler to retailer to final consumer) paano na kung hindi lang iisa yung retailer or wholesaler?.. Grabe... Kawawa mga walang trabaho...
suggestion ng IMF para mabilis mabayaran ang mga pautang nila.

In the end, its the consumers who will bear these taxes. I think the VAT should be reformed once again. How about variable VAT rate levied on different classes of goods and services from 4 to 15% like in other countries with essential/basic goods given the lowest tax rate and the rate progressively increases as it becomes luxurious items?
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Old May 8th, 2010, 02:41 AM   #43
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suggestion ng IMF para mabilis mabayaran ang mga pautang nila.

In the end, its the consumers who will bear these taxes. I think the VAT should be reformed once again. How about variable VAT rate levied on different classes of goods and services from 4 to 15% like in other countries with essential/basic goods given the lowest tax rate and the rate progressively increases as it becomes luxurious items?
Fully agree with this.
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Old May 16th, 2010, 05:50 AM   #44
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Enrile vows to block proposal to increase VAT to 15%
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MANILA, May 15 (PNA) – Senate President Juan Ponce Enrile has assured that he will block new taxes including the proposal to increase the value-added-tax (VAT) to 15 percent in the next administration.

”I will not go along with that. I will tell you now, I will use all my skills to prevent that from happening,” he said in a recent Senate media forum.

Enrile, one of the six re-electionist senators included in the Magic 12, stressed that the International Monetary Fund (IMF) should not be allowed to dictate the affairs of the country.

”Of course, the IMF would like us to increase VAT up to 20 percent because that will be to their benefit. So that we can service our foreign loans, but why should be dictated upon by the IMF?,” Enrile said.

The veteran lawmaker said that even the sin taxes should not be increased since this will also affect the poor.

”I think the high income groups do not smoke too but the ones who are smoking too much are the lower income groups because of the stressful condition of life for them,” he explained.

Enrile also believed that even Senator Benigno "Noynoy" Aquino III, who is poised to become the country's next president, would not support an increase in sin taxes.

”Probably he will not agree to increasing the tax,” Enrile said.

Aquino’s smoking habit is one of the issues raised against him during the campaign period. (PNA)
http://positivenewsmedia.net/am2/pub...AT_to_15.shtml
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Old May 17th, 2010, 03:40 AM   #45
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what? tataasan na naman ang VAT, parang di na nga tayo maka utot sa 12% na yan tapos gagawin pang 15%...Sino bang tanga na yan ang may utak sa planong yan, matamaan ka sana ng kidlat...pag tumaas pa tong vat na to dapat people's power na talaga
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Old May 22nd, 2010, 11:39 AM   #46
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Teves bats for higher VAT
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MANILA, May 22 (PNA) -- Finance Secretary Margarito Teves has prepared a terminal report for submission to apparent President-elect Benigno “Noynoy” Aquino III, proposing to scale up the value added tax, or VAT rate, to 15 percent from 12 percent at present.

While only recommendatory, Teves said the upward adjustment was necessary to compensate for various revenue-losing measures enacted by Congress, aggregating more or less a percent of local output, or the gross domestic product (GDP), in 2009.

The Department of Finance said on Friday that such foregone revenues amounted to about P77 billion.

“This forms part of my terminal report to be submitted to the incoming administration and to members of Congress. It is only recommendatory,” Teves said.

He said the VAT system, while vastly unpopular, helped cement the country’s bid to consolidate its ramshackle finances and allowed the economy to remain resilient in the face of a global downturn.

Finance Undersecretary Gil Beltran said the proposed higher VAT comes with a twin proposal lowering further the already scaled back minimum corporate income tax of 30 percent imposed only last January from 35 percent just last year.

“The higher VAT will raise investor interest in the country and reduce the tax leaks since the VAT system has an audit trail,” according to Beltran.

“Since the VAT system has a broader base, it requires only a small adjustment to achieve (higher collection) impact and therefore superior to plans like widening the avenues for tax exemption. It also encourages investments relative to consumption,” Beltran also said.

Teves first formally bared the higher VAT rate in Singapore about a week ago at the Access Asia Conference convened by the local unit of Deutsche Bank.

He delivered a presentation in which he cited the declining revenue base, the structural weaknesses of the current tax system, the increased pressure on the budget deficit as well as the continuing threats to near-term growth such as the El Nino weather disruptions, the imminent power outages and volatile commodity prices.

Teves said that the budget deficit, which is seen to climb back up to 15.8 percent of GDP this year to about P1.284 trillion, would remain manageable after having deteriorated to 14.6 percent of GDP last year from a high of 16.2 percent in 2008.

Tax revenues, viewed against GDP, also deteriorated rapidly in recent years, having averaged 12.8 percent last year from as high as 14.3 percent of GDP in 2006

Because the fiscal sector has deteriorated, the level of public debt consequently lifted from 56.9 percent of GDP in 2008 to 57.3 percent last year and likely average 57.5 percent of GDP this year. (PNA)
http://www.pna.gov.ph/index.php?idn=...d=3&rid=277188
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Old May 22nd, 2010, 12:14 PM   #47
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Enrile vows to block proposal to increase VAT to 15%
http://positivenewsmedia.net/am2/pub...AT_to_15.shtml
perhaps the good senator might be willing to give up his pork so he can at least help in our fiscal woes...
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Old May 22nd, 2010, 01:11 PM   #48
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suggestion ng IMF para mabilis mabayaran ang mga pautang nila.

In the end, its the consumers who will bear these taxes. I think the VAT should be reformed once again. How about variable VAT rate levied on different classes of goods and services from 4 to 15% like in other countries with essential/basic goods given the lowest tax rate and the rate progressively increases as it becomes luxurious items?
That would be good but I think it would only be applicable in an ideal setup. Knowing BIR, it would be too much to ask esp that their institutional capability is actually very limited. They actually imposed the uniform 12% eVAT to make it easier and more efficient for BIR to collect the taxes. Having different tiers in the eVAT would cause inefficiencies and corruption. Hence, lowering the revenue and would defeat the purpose of eVAT.

I think what the BIR essentially needs is to upgrade their system. Improve the computerization and database and most importantly, the collection of taxes. Second, they should hire more competent manpower. I think they are lacking in manpower at the moment. Coordination with local governments also affects the potential revenues because there are some establishments that aren't included on BIR's radar.

These should also apply with customs. Right now, our BoC is very inefficient and primitive. They should invest more on using technology on their transactions. Personal transactions with the government only creates inefficiencies and eventually, corruption. Also, the government should have several agreements with other countries to properly monitor our imports and exports with those countries.

Lastly, Congress passed too many laws that eroded the tax base (expansion of exemptions for dependents and no tax for minimum wage earners, lower corporate tax, etc). They should have passed other laws that could have helped that government increase its revenues like lowering or limiting the incentives given to corporations, increasing the tax on luxury items, cars, alcohol and cigarettes, etc.

Last edited by le Reine; May 22nd, 2010 at 01:18 PM.
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Old May 22nd, 2010, 11:08 PM   #49
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suggestion ng IMF para mabilis mabayaran ang mga pautang nila.
FYI, the Philippines as of December 28, 2006 has fully paid all its IMF obligations.

Most of the debt of the Philippines are in the form of peso-denominated debt instruments like t-bills, t-bonds, loans from Philippines bands and also foreign currency debt in the form of bonds.

Kahit yung mga utang ng Philippines sa World Bank at Asian Development Bank is not as big as its debt to holders of Philippine debt securities.

Before the new government decides to raise VAT, it should first ensure that all current VAT is properly collected from the biggest corporation to the smallest business establishment (e.i any business that generates 1 million pesos in sales yearly).

I would also support higher taxes on tobacco products and alcohol. Perhaps a simple policy of 5 pesos per stick of cigarette regardless of brand or manufacturer is in order. The current tobacco products taxation is heavily disadvantageous to the government.
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Old May 23rd, 2010, 02:47 AM   #50
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That would be good but I think it would only be applicable in an ideal setup. Knowing BIR, it would be too much to ask esp that their institutional capability is actually very limited. They actually imposed the uniform 12% eVAT to make it easier and more efficient for BIR to collect the taxes. Having different tiers in the eVAT would cause inefficiencies and corruption. Hence, lowering the revenue and would defeat the purpose of eVAT.

I think what the BIR essentially needs is to upgrade their system. Improve the computerization and database and most importantly, the collection of taxes. Second, they should hire more competent manpower. I think they are lacking in manpower at the moment. Coordination with local governments also affects the potential revenues because there are some establishments that aren't included on BIR's radar.

These should also apply with customs. Right now, our BoC is very inefficient and primitive. They should invest more on using technology on their transactions. Personal transactions with the government only creates inefficiencies and eventually, corruption. Also, the government should have several agreements with other countries to properly monitor our imports and exports with those countries.

Lastly, Congress passed too many laws that eroded the tax base (expansion of exemptions for dependents and no tax for minimum wage earners, lower corporate tax, etc). They should have passed other laws that could have helped that government increase its revenues like lowering or limiting the incentives given to corporations, increasing the tax on luxury items, cars, alcohol and cigarettes, etc.
Technology can only go as far as the system is set up. It will work best when the system is done right. BIR and BOC needed a major overhaul with respect to their revenue collection system backed by a simplified, sophisticated yet comprehensive set of laws that covers all the existing issues and handle the future ones as well.
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Old May 24th, 2010, 01:27 AM   #51
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FYI, the Philippines as of December 28, 2006 has fully paid all its IMF obligations.

Most of the debt of the Philippines are in the form of peso-denominated debt instruments like t-bills, t-bonds, loans from Philippines bands and also foreign currency debt in the form of bonds.

Kahit yung mga utang ng Philippines sa World Bank at Asian Development Bank is not as big as its debt to holders of Philippine debt securities.

Before the new government decides to raise VAT, it should first ensure that all current VAT is properly collected from the biggest corporation to the smallest business establishment (e.i any business that generates 1 million pesos in sales yearly).

I would also support higher taxes on tobacco products and alcohol. Perhaps a simple policy of 5 pesos per stick of cigarette regardless of brand or manufacturer is in order. The current tobacco products taxation is heavily disadvantageous to the government.
Agree here.
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Old May 24th, 2010, 01:29 AM   #52
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FYI, the Philippines as of December 28, 2006 has fully paid all its IMF obligations.

Most of the debt of the Philippines are in the form of peso-denominated debt instruments like t-bills, t-bonds, loans from Philippines bands and also foreign currency debt in the form of bonds.

Kahit yung mga utang ng Philippines sa World Bank at Asian Development Bank is not as big as its debt to holders of Philippine debt securities.

Before the new government decides to raise VAT, it should first ensure that all current VAT is properly collected from the biggest corporation to the smallest business establishment (e.i any business that generates 1 million pesos in sales yearly).

I would also support higher taxes on tobacco products and alcohol. Perhaps a simple policy of 5 pesos per stick of cigarette regardless of brand or manufacturer is in order. The current tobacco products taxation is heavily disadvantageous to the government.
Nice facts here! At least the succeeding president won't be a bad role model as he was (I remembered someone comment him smoking while in the elections.)
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Old May 24th, 2010, 04:42 PM   #53
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Nice facts here! At least the succeeding president won't be a bad role model as he was (I remembered someone comment him smoking while in the elections.)
Seriously, I'd rather have a honest but chain smoking president than a power hungry, plunderer and corrupt president with no vices.

By the way, the Dept. of Finance and Bureau of Treasury regularly publish about all outstanding Philippine debt.
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Old May 24th, 2010, 04:48 PM   #54
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Technology can only go as far as the system is set up. It will work best when the system is done right. BIR and BOC needed a major overhaul with respect to their revenue collection system backed by a simplified, sophisticated yet comprehensive set of laws that covers all the existing issues and handle the future ones as well.
Technology should be ingrained in their system. The problem with BIR and BoC is that they can't maximize the use of technology. For example, just try to file your papers in BIR and it would take you hours and hours of waiting, not to mention the kilometers long of queue. How can you pay taxes if from the very start there are a lot of disincentives that taxpayers have to face?
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Old May 26th, 2010, 02:08 AM   #55
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Technology should be ingrained in their system. The problem with BIR and BoC is that they can't maximize the use of technology. For example, just try to file your papers in BIR and it would take you hours and hours of waiting, not to mention the kilometers long of queue. How can you pay taxes if from the very start there are a lot of disincentives that taxpayers have to face?
Technology can make our lives a lot easier but not many people in the Philippines can avail that. Philippines should start first with a functioning postal system. Back in the days when filing taxes online is not yet available in the U.S., a taxpayer can simply mail the tax returns in the nearest post office as long as it's postmarked on April 15. That's what I meant by a good system at play whereas the roles of the postal service overlaps and integrates well with the revenue collection system of the taxing authority.
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Old May 26th, 2010, 02:45 PM   #56
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BIR runs after 7 toll operators for failing to collect VAT
By Michelle Remo
Philippine Daily Inquirer
First Posted 19:47:00 05/26/2010

MANILA, Philippines—The Bureau of Internal Revenue is going after seven toll operators in the country, saying these firms owe the government at least P6.5 billion in unpaid value-added tax (VAT) liabilities.

In a press conference, BIR Commissioner Joel Tan-Torres told reporters on Wednesday that his office would serve on Thursday tax assessment notices to seven major toll operators and the BIR was expecting the firms to respond in the next two weeks.

He said the BIR would take all available legal actions against the toll operators if the tax bureau's demand fell on deaf ears.

The toll operators facing potential tax evasion cases include the following: Manila North Tollways Corp. (MNTC), CITRA, UEM Mara Philippines Corp., PEA Tollway Corp., BCDA, Skyway O&M Corp., and Star Tollway.

The alleged tax obligations stemmed from the failure of these toll operators to incorporate the 12-percent VAT in the toll they charged motorists. Tan-Torres said that even if the toll operators did not collect VAT from motorists, they remained liable to pay the government such tax.

The estimated P6.5 billion in alleged unpaid VAT covers the period 2007 to 2009. Of the amount, P4 billion account for actual VAT liabilities, while P2.5 billion cover the penalties, according to Tan-Torres.

The BIR chief said the tax agency had just finished computing the "unpaid VAT liabilities" of the toll operators only for the 2007 to 2009 period and was stil computing unpaid obligations from 2005 to 2006.

The Reformed Value Added Tax Law, which is the basis of the BIR for going after toll operators, took effect in November 2005.

However, toll operators have not been collecting VAT from motorists because they interpret the law differently from how the BIR views the law.

For the toll operators, the fact that the law did not include toll in the list of goods and services covered by VAT means they are not obliged to pay the tax.

But the BIR insists that toll fees are not exempted from VAT either and should therefore be considered covered by VAT.

Earlier this year, Tan-Torres called on toll operators in the country to start incorporating VAT in the toll they collect from motorists. But the firms have not complied up to now.

"We are quite disappointed that they still have not incorporated VAT in their toll collection," Tan-Torres said. "If we cannot compel them to collect VAT from motorists, we can definitely go after their tax obligations," the country's tax chief said.

Under the fiscal program for 2010, the government is supposed to limit its budget deficit to P293 billion. In the first four months of the year, the deficit already stood at P131.6 billion.
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Old May 27th, 2010, 01:47 AM   #57
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good move.
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Old May 27th, 2010, 01:54 AM   #58
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Senators oppose VAT of 15%

By Christina M. Mendez
(The Philippine Star)
Updated May 27, 2010 12:00 AM

MANILA, Philippines - Senators shot down yesterday the Department of Finance’s suggestion for the next administration to increase the value-added tax (VAT) rate from 12 to 15 percent to address the country’s ballooning budget deficit.

Senate Minority Leader Aquilino Pimentel Jr. and Senators Francis Escudero and Francis Pangilinan said the government should first learn how to plug the loopholes in the revenue collection measures before even an increase in the VAT is implemented.

Pimentel said the DOF’s advice “gives (President-apparent) Benigno Simeon Aquino III) Noynoy with a noose to hang.”

“The budget deficit is brought about by overspending in government and widespread corruption that result in a flawed system of tax collection. These are the legacies of the Arroyo administration,” Pangilinan said.

The DOF made the proposal with a warning that efforts to merely enhance current revenue collection schemes would not solve the government’s daunting fiscal problem.

Finance Undersecretary Gil Beltran on Tuesday said the government’s tax effort—the ratio of tax collection to the economy’s overall output — was only at 12.6 percent, way below the 16-percent average among countries belonging to the Association of South East Asian Nations (ASEAN).

“I don’t see raising VAT as the solution to our budget deficit. Why should the Filipinos bear the burden of Arroyo’s transgressions? The system of tax collection must be improved,” Pangilinan said.

To plug the loopholes in revenue collection, Pangilinan said smuggling must be addressed and corruption within the Bureau of Internal Revenue (BIR) must be stopped.

“It is fortunate that Arroyo is leaving her post — that solves the extravagant spending of the executive department. All these must be dealt with, and only by addressing these concerns can we solve the problem of the budget deficit,” Pangilinan added.

For his part, Escudero said the next administration should first seek to plug loopholes and corruption in revenue generating agencies. “Raising taxes should never be the first option,” Escudero said.

He turned the tables on the present administration for its failure to arrest the budget deficit.

“Why pass the buck on the incoming administration to plug their income-generation leakages? My stand then as is now has never changed. Let the government run after those delinquent and unscrupulous businesses and individuals who continue to evade paying their taxes. We might even start with running after corrupt government officials who pocket from making deals with these tax evaders.”
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Old May 27th, 2010, 02:53 AM   #59
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Small oil players buck zero tariff plan

By Amy R. Remo
Philippine Daily Inquirer
First Posted 22:38:00 05/26/2010

Filed Under: Oil & Gas - Downstream activities, State Budget & Taxes, Laws, Government

SMALL oil players, led by the Independent Philippine Petroleum Companies Association (IPPCA), slammed the planned reduction of tariff on crude oil to zero, stressing that this would create an uneven playing field for importers and refiners.

In an interview, IPPCA chairman Fernando Martinez said independent oil players were appealing to President Gloria Macapagal-Arroyo to hold the signing of the executive order, saying that the reduction was “unnecessary, irresponsible [and] contrary to the Oil Deregulation Law.”

Oil imports from non-Asean countries are currently slapped a 3-percent levy.

Martinez explained that it was not true that independent oil players were enjoying duty-free importation of pure petroleum products under the Asean Trade in Goods Agreement (Atiga) since the government imposes a number of stringent requirements before they could do so.

Under the Atiga, the government keeps the most favored nation (MFN) tariff rate at 3 percent for crude oil sourced from countries outside the Asean, while those importing petroleum products within the region should enjoy duty-free importation.

“Supposedly, you can import finished petroleum products from the region at zero percent tariff, but there is a requirement – a certification that says the refiner is sourcing 40 percent of its raw materials from the region. If you don’t have this certification, Customs will not approve [duty-free importation],” he explained.

“[The certification] is not easy to obtain. It’s hard to prove,” Martinez stressed.

Since the smaller players could not avail themselves of the zero tariff, the planned reduction for crude oil would highly benefit the country’s oil refiners, namely Petron Corp. and Pilipinas Shell Petroleum Corp
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Old May 30th, 2010, 02:39 AM   #60
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Noynoy advised to find other ways to hike revenue collection

By Christina Mendez
(The Philippine Star)
Updated May 30, 2010 12:00 AM

MANILA, Philippines – Finance committee chairman Sen. Edgardo Angara advised presidential frontrunner Sen. Benigno “Noynoy” Aquino III to look into more innovative ways to increase revenue collection to plug the P300-billion budget deficit without implementing new taxes.

Speaking during the Mr. Taxman program over radio dwIZ yesterday, Angara said the government needs additional revenue especially at a time when the world is still reeling from a recession. But he shot down the proposal of the Department of Finance (DOF) to increase the expanded value added tax (EVAT) from 12 to 15 percent.

“We need revenue. Right now it is recession period. If you impose a new tax, that’s an additional burden. If the government will add more tax to plug the so-called fiscal deficit, it’s not a good timing. The need for tax is always there, even this time or some other time,” Angara said.

But he suggested ways how the incoming Aquino administration can raise about P100 billion in additional funds without having to raise taxes.

He said the revenue collecting agencies should step up their tax collection effort while technical and actual smuggling should be addressed at the Bureau of Customs and other ports in the country to prevent revenues from going to the pockets of abusive officials.

“An efficient tax collection coupled with addressing rampant smuggling and tapping into the funds of the government-owned corporations can help the government acquire about P100 billion a year with no need to increase EVAT by three percent,” Angara, one of the longest serving senator in the country, said.

“Our tax collection is weak. We can first prioritize enforcing our existing tax revenue collecting measures before we think of increasing taxes. Then you have to motivate our tax revenue collection agencies such as the Bureau of Customs, Bureau of Internal Revenue (BIR), Philippine Ports Authority, NAIA (Ninoy Aquino International Airport), LTO (Land Transportation Office) and other revenue earning agencies,” he added.

Angara also pointed to technical smuggling, citing as example the rampant entry of luxury vehicles, which are categorized as SUVs to lower taxes.

“There is a leak in our revenue collection because of smuggling. We have big incidence of technical and outright smuggling. These should all be plugged,” he said.

Angara also advised the next administration to review the so-called “off-budget” revenues coming from the government-owned and controlled corporations (GOCCs), which can easily reach P50 billion.

He said Congress can help the new government by creating a law that will allow the government to tap the GOCCs’ funds and bring their earnings to the national treasury to help plug the country’s P300-billion deficit.

“If he needs a law authorizing the national government to be able to tap in all these funds, then I think we should do it,” he added.

Angara explained that while the country has a deficit, it does not mean that the Arroyo administration failed in its objectives.

“Of course, we need to control our deficit. That’s desirable. But having a deficit is not a crime, not a sin. That’s part of fiscal management or fiscal finance,” he added.

Bayan hits DOF’s proposal

Meanwhile, Militant group Bagong Alyansang Makabayan (Bayan) hit the DOF’s proposal to increase the current EVAT rate of 12 to 15 percent, saying it will only provide a temporary respite to the budget pressure while causing long-term burden to ordinary people.

Bayan also challenged Aquino to tell the Arroyo’s economic managers to “shut up” and let his administration design its own fiscal strategy to deal with the burgeoning national budget deficit.

“To gain the people’s trust, Aquino should not appoint in his Cabinet the so-called VATmen of Mrs. Arroyo who have transferred to his camp,” Bayan said.

The group said that Cesar Purisima, Arroyo’s former Finance secretary who was instrumental in the crafting of the Reformed VAT Law in 2005, is now with Aquino.

Unconfirmed reports say that Purisima is being considered by Aquino as Trade and Industry chief.

On Tuesday, DOF undersecretary Gil Beltran said that the government’s tax effort, or the ratio of tax collection to the country’s gross domestic product (GDP), was only at 12.6 percent, way below the 16-percent average among countries of the Association of Southeast Asian Nations (ASEAN). Beltran, echoing the earlier statements of DOF Secretary Margarito Teves on the need for new tax measures including another round of VAT hike, said that the move is needed to address the burgeoning national budget deficit.

During the campaign, Aquino reportedly promised that his administration will not further increase the VAT rate, which was last raised in 2005 ironically by people who are now part of his camp.

Aside from Purisima, who lobbied for an increased VAT, re-elected Sen. Ralph Recto and principal author of the Reformed VAT Law is also now with Aquino’s Liberal Party.

Last year, the national budget deficit reached P199 billion, equivalent to about 3.9 percent of the GDP.

Bayan reiterated its position that there is no need to raise the VAT rate or impose new taxes on ordinary income earners to address the worsening budget gap.

Bayan deputy secretary general Eleanor de Guzman blamed corruption and trade liberalization for the country’s narrowing tax base.

“Note that for the most part of the 1990s, tariffs on imported goods and services were pegged at around 4.5 percent of GDP. In the last nine years, the average has substantially dipped to just about 2.8 percent. That’s billions of pesos in foregone revenues,” De Guzman argued.

The group added that with increased competition from abroad, many local businesses fold up and retrench workers, resulting in declining potential to collect taxes from enterprises and wage workers.

“We hope that Noynoy’s economic team can appreciate these realities and start working on a progressive and pro-people fiscal program,” added De Guzman. – With Rhodina Villanueva
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