Hear it from the pros>>>
Philippine Star - Articles - -
Quote:
For her part, veteran stockbroker and PSE director Vivian Yuchengco said the country’s ability to survive the ongoing global crisis was due to the value-added tax (VAT).
“Without the VAT, we would be in deep financial trouble. Because of the VAT our economy is strong and we’re able to cut our deficit,” Yuchengco said.
Unquote.
PGMA is not dumb to implement the VAT w/o any valid reason, she's an economist after all. So I cannot understand why many hunchos are against it...especially the catholic bishops.