Removing the VAT on oil would stimulate economic activity through savings to consumers on their fuel bills. It is estimated that without the 12 percent VAT, oil pump prices would go down by P4 ($0.098 at an exchange rate of $1=P 40.80) per liter and LPG by P60 ($1.47) per 11-kg cylinder. BY IBON Foundation…
Tags: Value Added Tax
P125-Wage Hike and Arroyo’s Economic Boom
If Pres. Arroyo wants to talk about “social payback from the booming economy”, the only acceptable and meaningful social payback that Filipino workers deserve today is a substantial wage increase complemented by price controls, tax reforms, and drastic increases in social services spending BY ARNOLD PADILLA Ibon Foundation Posted by Bulatlat In a televised forum…