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Saturday, November 19, 2005
Paying expanded VAT is everybody's business: trader
TAGUM CITY -- "Everybody has to do their share in running this country," businessman Severino Mercado of the Kapalong Chamber of Commerce and Industry said.
Mercado pointed out that paying taxes and complying with the Reformed Value Added Tax (VAT}) "is a necessary thing to do to help the government provide better services for all."
"Money for infrastructure will not just fall from nowhere. It has to come from us, from our taxes," he explained.
Mercado said even the poor that badly need government service have to contribute to government coffers so enough money would be available for the government to continue delivering what they need.
"Foreigners are willing to pay reformed VAT but we Filipinos are complaining," he noted.
Though he had apprehensions over leakage in tax collections to corruption, he said, this does not erode the necessity of reformed VAT implementation.
He encouraged everyone to be vigilant over tax collection and see to it that money really goes to public services.
Meanwhile, he noted that the improvement in approval ratings of President Gloria Macapagal-Arroyo, the stronger peso and the reformed VAT implementation have become come-ons to investors.
"In fact, I will be meeting with Canadian businessmen," said Mercado.
He said the reformed VAT implementation has made foreigners take a look at the Philippines as an investment site because the country has made efforts on addressing its fiscal problems.
For Bisaya stories from Davao. Click here. (November 19, 2005 issue)
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