New Tax Planned - Lets brace ourselves

[digitalsuperman]

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New tax planned for calamity fund

The Department of Finance wants the government to put up a calamity resiliency fund and has proposed the creation of a new tax to generate the cash it will need.
Finance Secretary Cesar Purisima said the proposed fund would finance projects and programs aimed at helping calamity-stricken areas recover quickly. He stressed the importance of such a fund, noting the increasing probability of natural disasters.
“Climate change is for real. If the presence of natural calamities is the new normal, we have to factor this in government planning. This is what we are doing,” Purisima said in an economic forum Tuesday organized by Euromoney.
Since the government still runs on a budget deficit, Purisima said that putting up the calamity resiliency fund would require new sources of cash. He said the DOF was preparing a list of new taxes that the government might impose on the business sector.
Purisima said the business sector would be consulted on the matter for the government to determine the most acceptable form of tax to be created.

“Improving resiliency takes a long time, but what the Aquino administration can do is set up the structure. The [calamity resiliency] fund can be formed through a new levy. As to what specific levy [the government may impose], we are still studying it,” Purisima said.
He said the creation of the proposed fund was proven necessary by Supertyhphoon “Yolanda,” which devastated central Philippines in November. It caused deaths to hundreds of thousands, disrupted business activities and damaged public infrastructure, farms and private assets.
The calamity was believed to have pulled many affected households into poverty and caused job displacements.
Purisima said that aside from the calamity resiliency fund that the national government wanted to put up, another fund from local government units (LGUs) has also been suggested.
He said LGUs could pool their respective disaster funds into one big fund that could be tapped by any LGU affected by a natural calamity.
He said the DOF would consult the Government Service Insurance System (GSIS), which could be tapped to administer the proposed pooling of LGU funds.

http://business.inquirer.net/164362/new-tax-planned-for-calamity-fund

although para sa business sector ang ilang planned tax, we all know that it will be passed down to us consumers ang payment ana nga tax.

[psyche54]

^^ aha pa man diay na ihapak, sa atoa jud ng mga consumers!

Kaning atong pang-gobyerno puro ang huna-huna, unsaon ta pag-puga! Maayong ning ipakog ning utok ni Purisima, Butch Abad ug Kim Henares.

With the billions in pesos of foreign aid, tons of relief goods, murag wa man tay nakitang igong effort sa gobyerno para makarecover ug sayo2x ang mga nangaigo ug calamidad ug uban pa...

Now, ila na sad 'ning himoong avenue for another tax scheme... Dayon sa mga sunod nga tuig, naa na sad dayo'y mag-ala "NAPOLES". Pagkalooy ni Juan dela Cruz...

[cliff_drew]

I don't think BIR will be partly blamed here. Naa ra man gud na sa higher ups/administration as well as DOF ang decision. BIR is just doing its task, to collect taxes and achieve the required collection per annum inorder to be used in financing government projects and other gov't expenditures.

[<SMILE>]

I could foresee a calamity fund scam in the future.
Maayo kaayo ni nga proposal pero kilawon ra pud gihapon ni nila.

[brucelee]

i dont see any problem on additional taxation but it would be better yet to know where are proceeds of these funds. I think we have enough income pero wla lng jud kaabot sa ubos ky sa taas pa lng dugay kaau mapuno ila bulsa..hehehehe

[crossramz]

Climate change is for real. If the presence of natural calamities is the new normal, we have to factor this in government planning. This is what we are doing,” Purisima said in an economic forum Tuesday organized by Euromoney.

saving their own ass is what they thought.. dafak!!

[marcial19xx]

another income for the ****ing politician and officials in the government. we all know ngano dugay kaau nahatagan ug support ang victim sa yolanda kay dli man under sa president administration... unahon ang politika una ang kinabuhi sa mga tawo.... example sa bohol. dli niya ipa release ang hinabang sa red cross kung dli moagi sa iyaha... naa man cguro tah enough budget para ana... sa kadugay na sa country nga philippines wala lang gihapon budget dli ko mo tuo ana...

[raissah]

supli sa pork barrel ahaahahaha

[aenigma143]

gihimo napod og gatasan si mang juan.. sus GINOO ko poryagaba.. packing tape!!!! packing tape!!!!

[slyder10]

That's how Oligarchy works, only the wealthy will benefit. the rich will become rich, the poor will soon die! Oligarch will increase their profits year after year by letting the consumers absorb everything. the gov't imposed different kinds of taxes which they dearly passed to us. I believe in enjoying the fruits of your labor, but when the laborer is struggling to make ends meet and the freaking oligarch is driving a 25 million ferrari, that is just ridiculous!