Itinulak ni Sen. Ping Lacson ang pagbaba ng rate ng Value-Added Tax (VAT) at pagtanggal ng exemptions dito para makalikom ng pondo ang gobyerno na hindi dadagdag sa pabigat sa ordinaryong Pilipino.

Ayon kay Lacson, kung nasunod lang ang formula na isinulong niya noon pang 2018, maaari nang lumikom ng hindi bababa sa P117 bilyon kada taon na dagdag na tax revenues kahit na binaba ang VAT rate sa 10 percent mula sa kasalukuyang 12 percent.

“The Department of Finance should have adopted my proposal when Congress was deliberating on Train 1. We could have earned at least P117 billion in additional tax revenues in 2018 alone, even with a reduced VAT rate from 12% to 10%, by removing 78 lines of exemption from some sectors such as the power sector, cooperatives, housing, and economic zones,” ani Lacson, matapos mapaulat na isusulong ng Department of Finance sa susunod na administrasyon ang pagtanggal ng VAT exemption para makalikom ng P142.5 bilyon kada taon. Ang pondo diumano ay gagamitin para bayaran ang utang ng bansa.

Related: Lowering VAT Rate, Cutting Exemptions: Lacson Pushes Formula to Shore Up Revenues
Continue reading “Pagbaba ng VAT Rate at Pag-alis ng Exemptions, Itinulak ni Ping Para Makalikom ng Pondo ang Gobyerno Para Bayaran ang Utang” →

Bringing down the rate of the Value-Added Tax (VAT) while removing VAT exemptions in several sectors will go a long way in raising much-needed revenues for the government while lessening the burden on ordinary Filipinos.

Sen. Panfilo “Ping” M. Lacson said this formula, which he proposed as early as 2018, could have raised at least P117 billion a year in additional tax revenues even with a VAT rate of 10 percent, lower than the current 12 percent.

“The Department of Finance should have adopted my proposal when Congress was deliberating on Train 1. We could have earned at least P117 billion in additional tax revenues in 2018 alone, even with a reduced VAT rate from 12% to 10%, by removing 78 lines of exemption from some sectors such as the power sector, cooperatives, housing, and economic zones,” Lacson said, following reports the DOF will ask the next administration to remove VAT exemptions to generate at least P142.5 billion every year, with the amount potentially used for debt payments.

Related: Pagbaba ng VAT Rate at Pag-alis ng Exemptions, Itinulak ni Ping Para Makalikom ng Pondo ang Gobyerno
Continue reading “Lowering VAT Rate, Cutting Exemptions: Lacson Pushes Formula to Shore Up Revenues to Pay Debts” →