(DP 2005-05) The economy on a cusp: the proposed VAT amendments and their larger significance

E. S. de Dios, B. E. Diokno, E. F. Esguerra, R. V. Fabella, M.S. G. Bautista, F. M. Medalla, S. C. Monsod, E. M. Pernia, R. E. Reside, Jr., G. P. Sicat, E. A. Tan

Abstract


Debates on the revision of the value-added tax (VAT) are about to reach the penultimate stage. Once house and senate have passed their respective versions of the bill, congress – through a bicameral conference committee sometimes referred to as the “third chamber” – must then agree on the final form of the law. After all the media-posturing, the politicking, and horse-trading have subsided, politicians of both chambers are still left to confront the nation’s true interests – and their own consciences. It is vital that they finally pass a law that is right in form and adequate to the economy’s needs.

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