Palace: eVat on oil needed to fund pro-poor projects
By Rocky Nazareno 03/15/2012Malacaang is bullish on the economy yet it is holding back on a proposal to reduce the 12 percent expanded value added tax (eVAT) on oil by two percent to help ease the burden of the Filipino people.
At his regular press briefing, presidential spokesman Edwin Lacierda said the income generated by the eVAT on oil is needed to fund the various pro-poor programs of the government.
The taxes on oil are really needed. While the circumstances at that time when it was imposed are different now. We need it to continue to fund our programs, he said..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/metro/20120315met1.html
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