Monday, November 05, 2007

Remembering RVAT

Let's now take a closer look with regard to the issues that brought certain events in the gray area. To the issues that made the nation in the midst of uncertainties as they happened.

As we visit our departed loved ones, this Halloween season, let's recall the major event that made daily household in a state of grievance.

The MalacaƱang Palace preferred to call the "reformed value added tax" and came into effect on the feast of Saints, November 1, if you still remember.

There was much uncertainty about the administration's capability for fiscal permanence, about its eagerness to implement an obligatory revenue measure in the center of intense political attacks. RVAT had gone to be disliked. All revenue measures were at first unaccepted anywhere. What will be appreciated by the market and the investing community is the fact that it is being forced at all by a particular on going administration some sent away to weaken politically to be able to conduct meaningful economic and fiscal reform.

The enforcement of RVAT was not trouble-free.
Despite of all the controversies about the issue, we still dig on the possible political trenches that could lead to a better perspective or a solution as well. It is for the "strong republic" advocacy of the President of will it be continued or simply denude to power.

Arroyo's administration may not be loved for doing this but it has been done to restore the economic stability and fiscal sanity to this country notorious for having one of the lowest tax efforts in the world.

Sinasabing nagiging progresibo na ang Pilipinas sa kasalukuyan dahil sa mga praktikal na desisyong isinagawa ng pamahalaan ngunit ang mga ito nga ba'y dama ng taong-bayan? Pag-isipan.

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