Palace Wants Vat Hiked Anew To 15%

[Mr Lee]

Tax, tax, tax, it seems that all governments know how to do. How about cutting government waste and corruption, wouldn't that save much more money. The Palace is again pushing an increase in the value added tax (VAT) to 15 percent from the current 12 percent as a solution for the back-to-back blowout last year and this year of almost P300 billion. Finance Secretary Margarito Teves recommended the raising of the VAT rate, which President Arroyo immediately supported based on the statements of her spokesman yesterday. 15% VAT might be coming soon

[TheMason]

They should cut the VAT and jack up the property and income taxes instead. The tax system here is a heavy burden to the lower and middle classes of society while the rich pay next to nothing at all. A higher VAT is really going to hit the poor and middle class quite hard.

[Mr Lee]

They should cut the VAT and jack up the property and income taxes instead. The tax system here is a heavy burden to the lower and middle classes of society while the rich pay next to nothing at all. A higher VAT is really going to hit the poor and middle class quite hard.

I would agree with you on jacking up of property taxes but only on the more expensive homes or developed properties because I believe that many of the middle class people may also own small homes and undeveloped land. Anyway, now that you suggested this, you can almost rest assured that they will do that on top of the extra VAT.

[Mik]

You guys are nuts if you want more taxes. Government needs to cut back on spending. One way to save taxpayer money is to stop prosecuting victimless crimes..

[Singers]

You guys are nuts if you want more taxes. Government needs to cut back on spending. One way to save taxpayer money is to stop prosecuting victimless crimes..

(Persecuting) Prosecuting the UK motorist for "victomless" offences is a VAST source of income and "THET" know motorists, normally Law abiding Citizens, will pay. Prosecutions will continue and grow.Taxing the RICH in PI won't happen as THEY are also the Lawmakers!!

[TheMason]

You guys are nuts if you want more taxes. Government needs to cut back on spending. One way to save taxpayer money is to stop prosecuting victimless crimes..

I wasn't actually advocating higher taxes, but if taxes are going up anyway, they should at least raise the taxes that don't screw the poor quite so much.