SUMA-TOTAL: Do the VAT Math
There has been a growing clamor and pressure from different sectors of society for the government to cancel VAT collections, especially on petroleum products in light of unabated oil price hikes. This has developed into a tactical demand from consumers as the Arroyo administration continues to defend the VAT burden and refuses to heed the people’s call for immediate relief amid an unprecedented economic crisis.
In President Arroyo’s latest State of the Nation Address, the administration once again voiced out its strong resistance to the removal of VAT, saying that its cancellation would result in huge budget deficit for the government.
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