VAT is not bad after all.

[jiro]

Hear it from the pros>>> Philippine Star - Articles - -

“we’re able to cut our deficit,” Yuchengco said.

meaning balance the corruption... ?

we are paying for the government's corruption.

(^_^)v peace

[lestat1116]

who said Taxes are bad? its our countrys life line... the only thing bad is the ones who holds this money.
taxes should go back to help our country but some corrupt politicians the ones causing this to look bad.

tama ba? ahahahaha

correct....

[akosabni]

open your mind... you will see

i did ... just like you guys, just thinking out loud

[ingkiang]

who said Taxes are bad? its our countrys life line... the only thing bad is the ones who holds this money.
taxes should go back to help our country but some corrupt politicians the ones causing this to look bad.

tama ba? ahahahaha

your right bro

[giddyboy]

how i wish i could believe this ... but how can i see it as a reward if i'm paying for it

clearly, u haven't been reading the article from the thread starter.

"For her part, veteran stockbroker and PSE director Vivian Yuchengco said the country’s ability to survive the ongoing global crisis was due to the value-added tax (VAT).

“Without the VAT, we would be in deep financial trouble. Because of the VAT our economy is strong and we’re able to cut our deficit,” Yuchengco said."

Besides, taxes are the lifeline of our country...Paying tax is an obligation. Yes, there are rewards that comes back but it will be a person's discretion where, what, and how to look for them.

u asked the question "how can i see them"...well, OK, here it is:

if u r a road user, di ba u can see the roads, bridges, flyovers, skywalks, etc...these come from our taxes and part of it comes from VAT.

if u frequent city hall, public hospitals, and public schools, our taxes go to the building and vehicles maintenance, salaries and wages for more addt'l teachers.

if u buy NFA rice, our taxes goes to the subsidy. That's why u r paying only 18.25-25 pesos for a kilo.

and lots still to mention...

without VAT, kulang ang atong budget and our country would have been more open to risks like this global crisis for example.

[r3roble]

taxation is one of the inherent powers of a nation and taxes are it's lifeblood...
so whatever tax we have is good for our country to prosper...
it's just that people that we entrusted to put our taxes to good use, wasted it for their personal gain...

[akosabni]

unsa man d'ay pasabot ani ...

YEHEY!Finance | Economy - When money matters

naa bay contradiction on what ms. yuchengco was quoted?

[tobie_pepito]

agree ko ani nga thread.... for me, maong gamay kaayu atung economy ron, tungod sa mga kurakot nga politician, dli man jd nah nila ma avoid kai kwarta rman ilang gi-huna2.. huhuhu.. paita gyud..

[lecreigh]

taxation is one of the inherent powers of a nation and taxes are it's lifeblood...
so whatever tax we have is good for our country to prosper...
it's just that people that we entrusted to put our taxes to good use, wasted it for their personal gain...

korek!!! 2 things in life that will always be... death and taxes. it is our life blood. naka tabang mn sad jud xa oi. ang mga politiko ra man maoy korakot mao wa ta nakita sa atong gibayad nga taxes before...

[KE-25]

Allright, ive read most of the post here, not a bad subject to discuss or bring up. And I agree Taxes is something that is needed. Although Extended Taxes is something that is not (if we just behaved). Case in point VAT vs EVAT

I am responding not to start a debate but something that ive been reading and researching for a time now. So in other words these are just opinions and to give a better understanding to whats going on.

VAT

The VAT, an indirect tax on the sales of goods and services

In his book, The Globalization of Poverty, world-renowned economist Michel Chossudovsky describes the VAT as an imposition of the International Monetary Fund (IMF) and the World Bank (WB) on debt-ridden Third World countries. The VAT, he says, is a mechanism for producing needed revenues for debt servicing.

Lets move over to the reality of things in our country

A 2004 study by the United Nations Development Program (UNDP) placed the yearly revenue losses from corruption at 13 percent of the national budget. However, the National Tax Research Center (NTRC) estimates annual corruption losses at 20-30 percent.

Meanwhile, yearly losses due to tax leakages ranged from P215 billion ($3.92 billion) to P285 billion ($5.20 billion).

The EVAT bill was signed into law but was challenged before the Supreme Court. The Supreme Court, however, voted 15-0 on Sept. 1 upholding the constitutionality of the EVAT. The Constitution prohibits “regressive taxes.”

The EVAT law expands VAT coverage to include electricity, fuel, and transportation among other previously VAT-exempt sectors. It also gives the President standby authority to raise the VAT from the present 10 percent of the sales of goods and services to 12 percent in January, subject to certain conditions

Here is another small article I read by a lawyer that just felt bad about the whole extended taxes

"Don't get me wrong. I don't want the tax measure implemented, especially when I know it is intended to cover the shortfall in the budget that was partly brought about by lavish government spending for re-elections. But if the law is valid, then it should not be suspended. If it's a bad law, then the people responsible for its passage should get the bad press, regardless of the political weather. I hate it when laws become unpredictable. It makes me think that our people are not worthy of the sacrifices of our heroes who fought for self-government. Bonifacio must be turning in his grave (whereever it may be.)" as one wrote.

So in closing , think about it for a minute my fellow istoryans - While Taxes are okay for a countrys growth, it is not okay to pay taxes on political shortcomings

my 2 cents