October 21, 2014     Philippines
Support alternative journalism. Donate to Bulatlat.com.

July 19, 2008
Bleeding the People Dry

Bleeding the People Dry. The value-added tax (VAT) on oil is contributing to the already unbearable burden foisted by the unabated spikes in prices of petroleum products, which are the result of profiteering by oil companies as well as speculation in the futures market. Lifting the VAT on oil would at least provide considerable immediate relief from the effects of oil price spikes. But the Arroyo administration refuses to lift the VAT on oil, because with this revenue measure, the government gets increased VAT collections with every oil price hike – no matter that it bleeds the people dry.
By FLON FAURILLO
(Bulatlat.com)
ARTICLE TOOLS
Printer-Friendly Version Printer-Friendly Version

TAGS
,
CATEGORIES
* Latest PostsnameSalungguhit
REPRINT
Feel free to reprint, repost or republish this material. (Read Bulatlat's syndication policy.)

Comments are closed.

BROWSE BY SECTION OR SUBJECT ››

Politics
Economy
Human Rights
OFWs & Migration
Agrarian Reform
Labor & Employment
Urban Poor
Environment
Education
Youth
Indigenous Peoples

Women & Children
Health
Media
Culture
Poetry
Analysis & Opinion
Regions
International
Democratic Space
Press Releases
Downloads

ON THE FRINGES (BULATLAT STAFF BLOG) ››