Finance secretary defends expanded VAT anew
Finance secretary defends expanded VAT anew
FINANCE Secretary Margarito Teves reiterated that the two percent Expanded Value Added Tax (e-VAT) expected to be enforced this year would result in economic growth.
Teves urged taxpayers to look at the “bright side” of the tax measure in terms of long term gains instead of short term “pains.”
He said the first round of e-VAT was already a “proven harbinger” of fiscal stability, business confidence, and job investments.
Moreover, Teves said, the government has approved a wage increase for government workers and exempted minimum wage earners from income taxes.
“We must work on the tax administration and collection efficiently,” said Teves.
“Trust and confidence in the government must always be present and citizens must constantly ask the government to do an accounting of projects to prove that what the government is saying is true,” he added.
More: sunstar.com.ph