Newks pushes expanded VAT implementation
Newks pushes expanded VAT implementation
REPRESENTATIVE Monico Puentevella (Bacolod City, lone district) is pushing for the implementation of the expanded Value-Added Tax (VAT).
He believes that the tax measure will help boost the country’s projected revenues for 2006.
The solon also said President Gloria Macapagal-Arroyo has endorsed to the House of Representatives the proposed P1.03-trillion national budget for 2006.
The current budget is only P873 billion.
Puentevella, in an interview, said almost all of the government’s economic projections for next year were based on the full implementation of the expanded VAT law, which is expected to generate around P130 billion in new revenues.
He added that the members of Congress should prioritize the passage of the proposed budget during the Plenary Session next year.
More: sunstar.com.ph