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Wednesday, February 1, 2006

Random Musings

Dear Me,

So I was instructed to stay at my little, messy corner here at work. Despite having two ongoing projects, I am letting my a** rest for a while. The field work is taking its toll on me. I think I am getting older each day. Yesterday, I had to be in Subic so early in the morning and had to come back at the office by 5pm. Goodness.

Of course, I am working today. I have to pay attention in preparing for three more projects slated by mid-February. Aside from that, I have to clean up the clutter on my desk, check and reply to my corporate email messages, etc.

I just can't wait till the time comes that I will be lying down my back to sleep. Hehehe. I miss sleeping.





Since I have been very busy lately and always out of the office, the daily news update had flooded my inbox. For today, the news about the implementation of the 12% evat and its effects hounds every broadsheet in the country.
12% VAT now in effect
A 12% value added tax (VAT) takes effect today after President Arroyo yesterday ordered a two-percentage point increase in the tax rate. Executive Secretary Eduardo Ermita informed Finance Secretary Margarito Teves through a January 31 memorandum that the latter's recommendation to raise the VAT rate to 12% from 10% was approved by Mrs. Arroyo.

And the forecast for the economy;
Economy likely to slow down this quarter
Economic activity is likely to slow down this quarter, as consumers and businesses wait to see the impact of the two-percentage point hike in value-added tax (VAT) that takes effect today, the National Statistical Coordination Board (NSCB) said in a statement yesterday.

And the reaction and effect.
Oil, power, fare rates up
Effective today, the prices of diesel and gasoline will go up by 60 to 70 centavos a liter and power rates in the franchise area of Manila Electric Co. by an average of 10 centavos per kilowatt-hour because of the increase in the rate of the expanded value-added tax (VAT) from 10 percent to 12 percent. Albay Representative Joey Salceda, President Gloria Macapagal-Arroyo's economic adviser, described the 12-percent VAT rate as a short-term pain for long-term growth to address poverty.
With the onset of the implementation of e-vat of 12% from 10%, it's 100% guarantee that everything we purchase from hereon will be higher than before.

Eh, ang sweldo kaya natin? *hmm* *Asa ka pa.*

2 comments:

  1. Holy crap! Raising the VAT?!?!? And I was counting on cheap alcohol when I visit there this month. I knew eventually beer would become expensive. :)

    ReplyDelete
  2. ken, yes. Our president had issued an EO last year but it was only implemented this year, except for the electricity, I think.

    ReplyDelete




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