Expanded VAT again (Nov 1, 2005 implementation)

[Blackraven]

A downgrade is because they think the Philippines will not be able to pay its debts. The only way to avoid is to show we can pay our debts --- by raising tax revenues.

If done properly, the increased VAT can result in a virtuous cycle. Higher revenues ==> better financial position ==> lower interest payments ==> more money to spend to improve economic conditions ==> higher revenues

I think I understand what you're saying.

BUT it has to be done correctly. If there is no transparency, then it's just a waste.

If they are going to implement it starting Nov.1, siguro at least put an exemption of fuel and power for AT LEAST TWO MONTHS.


But if no one will put at TRO to paralyze the E-VAT, then it will push through from Nov.1 til the end of the year (with 12% after the new year celebration).

I'll adopt a wait-and-see attitude for the first two months of it's implementation for this year.

Until then, I won't even vote for my choice in the above poll.