This is the best example to illustrate how big the impact is of the VAT on oil on government revenues. Because of the 12% interest rate on the growing oil prices, the government’s revenue for the first half of this year is 22% higher than that of 2007. Normally this would be a good thing –...
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Posts Tagged ‘Taxes’
VAT Increases Gov Revenues by 22% vs ‘07
Wednesday, August 6th, 2008VAT Proceeds as Dole-outs
Sunday, July 20th, 2008The headline of Inquirer for the past two days clearly shows how unpopular President Glora Macapagal-Arroyo is. Apparently the results of the recently conducted survey shows PGMA as the most unpopular president across all social classes in the history of our country. To counter this, the Palace has tried...
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Senator Roxas Interview Transcript: Suspend VAT on Oil
Monday, July 7th, 2008Here’s something interesting – Senator Mar Roxas is really pushing for the suspension of VAT on oil. Like what I said in my previous post, this will give conusmers some relief in the on-going global gas crisis. I got this transcript from my Tita’s post in her blog. There are some really...
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Gas Price Increase… Again.
Sunday, July 6th, 2008Lines at the gas station last Friday were really long. People were afraid that the prices would increase and their fears were confirmed. According to several articles on Inquirer, the prices would continue to increase weekly until we hit around 65-66 per litter. There’s even talk right now that...
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