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As the Expanded Value Added Tax (EVAT) bill has been signed into law by President Gloria Macapagal-Arroyo, Malacañang said the signing of the EVAT is just the "first phase" of her fiscal reform program. With the expected yearly revenues of P80 billion from the new tax measures, she said she can now "invest" in her pro-poor program.
Do you think that the EVAT will do more good for all Filipinos?
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The Land Transportation Franchising and Regulatory Board (LTFRB) yesterday temporarily suspended the May 26 implementation of the approved fare hike for public utility jeepneys (PUJs) and Metro Manila non-aircon buses.
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BAGUIO CITY — Four young Air Force officers perished in a plane crash before noon Tuesday, barely five minutes after take off from the Loakan airport in this city in a routine navigation course from Baguio to Clark Air Base in Pampanga.
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President Gloria Macapagal Arroyo signs the expanded value-added tax bill into law in Malacañang. Seated with her are Senate President Franklin Drilon (left) and Speaker Jose de Venecia. Standing from left: Bureau of Internal Revenue Commissioner Guillermo Parayno, Customs Commissioner Alberto Lina, Reps. Eduardo Gullas, Monico Puentevella, Exequiel Javier, and Joey Salceda. The law retains the VAT rate of 10% but gives the President standby authority to raise the rate to 12%. (Ramon I. Samson) |
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Metro Manila: Mostly cloudy with rainshowers.
Cebu: Partly cloudy to cloudy with rainshowers.
Davao: Mostly cloudy with rainshowers and thunderstorms.
Sunrise — 5:26 a.m.
Sunset — 6:20 p.m. |
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V.A.T. BILL SIGNED INTO LAW.
