Posts Tagged ‘VAT increase’

Liberal Party presidential candidate Sen. Benigno “Noynoy” Aquino III slammed the proposal of Finance Secretary Margarito Teves to increase the value added tax from 12 to 15 percent, saying it would only be an added burden to the public.

Aquino said that instead of increasing the VAT, the government should be implementing effective and efficient tax collection measures. He cited that in 2009, money lost due to graft and corruption was estimated to be P280 billion.

In a statement, Aquino said
“This is the easy way out. We can collect more taxes at the BIR (Bureau of Internal Revenues) and higher duties at Customs if we become more serious in curbing and punishing tax evasion and smuggling,”
…
“We will not shift the burden of improving revenue collection to the Filipino people. This government dug up this debt hole we’re in; an Aquino administration will try its best to dig us out of it by addressing the main reason we have not been able to collect taxes properly: corruption”

Full story: Noynoy hits proposed hike in VAT
Complete list of national candidates