March 6, 2006
Why Value Added Tax (VAT) Won’t Work
Value Added Tax (VAT) is a tax measure designed to address the Philippines’ fiscal deficit. At first, it was levied upon a select number of goods and services, then its coverage was expanded to include more goods and services (Expanded VAT) until it became the Reformed VAT which increased the percentage of tax from 10% to 12%.
But is the VAT the best solution to the country’s financial problem? A close look at the bigger context of the problem reveals that the VAT is going to do more harm than good.
Filed under Government by The Postman.
