Yesterday, new provisions on the Value Added Tax (VAT) Law of the Philippines took effect. The new provisions took away from gasoline, electricity, and the doctors and lawyers the exemptions they had from paying the VAT. The immediate effect of this is the increase in gasoline prices, electricity rates and doctors and lawyer's fees.
This is a very unpopular law, nobody likes paying higher prices, yet the President fought to have this law passed and implemented even with her advisors calling for her to defer its implementation.
The President has done a lot of things to promote her popularity, especially during these times when her leadership is in question, but her commitment to righting the government's financial position has been steadfast. Whatever we may think of her and her administration, we should give her credit for this act.
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