Friday, April 08, 2005

Vat and Witholding Tax

For the past months the Philippine government has been pressing with the passage of revenue enhancing measures in the House of Representatives (Congress) and in the Senate. Hmmm, revenue enhancing measures ... tax or more specifically Value Added Tax. During the Spanish time if you were unable to pay your taxes you would be conscripted to the military service for a number of years or work for the Spanish crown. And certain revolts were catalyzed by attempts to impose a tax on the local wine called basi. I am just wondering,with the advent of the VAT and other new tax measures will there be a chance that the government will lower the witholding tax for salaried workers? Wishful thinking on my part I guess.


Post a Comment

<< Home