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News
May, 2010
KAAKBAY NOMINEE,
BRIONES HITS IMF AND DOF FOR THE VAT
INCREASE PROPOSAL
Kakbay Partylist
nominee, Professor Lenor "Liling" M. Briones
strongly opposed the International Monetary
Fund (IIMF) and Department of Finance (DOF)
proposal to increase the VAT rate from 12 to
15% and at the same time lower the income
tax rate from30%to21%.
"I am aghast by the regressiveness of the
proposal. This is like Robin Hood in
reverse!" Briiones exclaimed.
"We have always opposed VAT as it does not
distinguish between the rich and the poor.
Both pay the same 12% VAT rate when they eat
in Jolibee but for sure, the poor family is
burdened more by the VAT compared to the
rich family. And where did the lowering of
the income tax rate proposal emanate? Income
taxes are actually the more progressive way
of collecting taxes as those who earn more
are being asked to contribute more to the
government coffers. What will happen
therefore is that government collects more
from the poor by imposing regressive taxes
like the VAT and collecting less from the
rich by lowering the income tax rates."
Briones who is also covenor of Social Watch
Philippines and former National Treasurer
added that the VAT, as it is, has a lot of
leakeages. Before increasing the rate, she
insists on plugging those leakages, among
which are the exemptions in accords in a lot
of goods, services.
"For VAT to work effectively, there should
be no exemptions. In fact, well-intentioned
as it is, the lowering of the VAT rate
applied to purchases made by senior citizens
is a major leakage in VAT's implementation.
I am proposing though that consumers be made
to collect an input VAT credit so that a
culture of receipt-consciousness is created
among our people. That way, government is
really able to track the incomes of
businesses and professionals like doctors
and lawyers and collect from this 'hard-to'tax'
group better," she explained.
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