A brighter outlook

The Arroyo administration received another pat on the back recently, from no less than the Asian Development Bank (ADB).

In its Asian Development Outlook 2007, released a few days ago, the ADB said investment growth is likely to rebound to 4 percent to 6 percent this year, from only 2 percent in 2006. The ADB noted that the annual increase in investment was just 0.4 percent from 2002 to 2006.

This investment spike will be underpinned by low interest rates and government spending on infrastructure and social services which at 17.9 percent of gross domestic product (GDP), is the first pick-up in its share of GDP in five years, the ADB said.

The Arroyo administration’s reform orientation did the trick, as many have pointed out. According to the ADB, the country’s future rests on sustaining this reform orientation, particularly in improving tax collection and achieving privatization targets. The mid-term poll is also a factor: it must be transparent and peaceful, said the ADB.

Early this month, the President announced her 8 in 08 agenda, which sets the government focus for the year, in order to attain 8 percent growth by 2008. "Our objective for this year is to invest on the people in order to attain the blessings in 2008," the President had said when she announced the tack, which was shortly after Chief of Staff Joey Salceda came on board.

The eight blessings would be: job creation, better cost of living, strong peso, more investments, pro-poor health care, housing, food, green Philippines, and anti-terrorism.

While the ADB’s expectations on the country’s growth is more modest at 5.4 percent than what the Arroyo administration has set as its target (7 percent in 2007, 8 percent in 2008, 9 percent in 2009), no amount of denial from the opposition can alter the fact that these economic gains have restored the confidence of the international community in the Philippines. And this is what accounts for the continuing flow in the country of both portfolio investments and foreign direct investments, such as in the Business Process Outsourcing sector, particularly in the call center business.

I must emphasize that it took six long years to catch their good graces, and so let not the opposition vilify this reality as it is an achievement of the Arroyo administration. But beyond politics, all of us benefit from this, including members of the opposition. We are all citizens and residents of this country, after all.

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The deadline for the filing of income tax returns is April 16 — barely three weeks away. And we taxpayers should by now start preparing our income tax returns.

Indeed most everybody hates filing up income tax returns. But we are told that paying taxes is not exactly self-flagellation — that it is investing in our future. Because taxes enable the government to build roads, bridges, schoolhouses, public hospitals and police stations.

A good thing is that our commissioner of Internal Revenue, Jose Mari Bunag, is very pro-taxpayer. He would not allow any taxpayer to be harassed or brow-beaten by any tax collector. "The taxpayer is our master. Treat him courteously and fairly. Never demand any gift or money for your assistance because that is your duty," he reminds BIR officials and employees.

Commissioner Bunag has instructed all revenue district offices to organize public assistance centers to assist taxpayers in the correct preparation of their tax returns. He has also directed the regional offices to conduct tax information campaigns to educate the taxpayers on their tax obligations, especially in the face of the forthcoming deadline in the filing of tax returns.

Hence, the BIR’s tax campaign slogan this year is, "Contribute to your nation’s progress, Pay your Taxes." "Tumulong sa pag-unlad ng bayan, tamang buwis ay bayaran!"

His being a pro-taxpayer does not excuse non-taxpayers from being criminally charged for tax evasion. If we don’t pay the correct taxes we should not enjoy our equal share of the nation’s progress. We may even land in jail.

To ensure justice in the payment of taxes, the BIR under Bunag has upgraded its tax monitoring system through a sophisticated computer program that would quickly and easily detect cases of tax evasion. No one will escape the eye of the computer.

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Immediate past Philippine Permanent Representative to the United Nations New Ambassador Lauro L. Baja Jr., will be the commencement speaker  at the commencement exercises of The Philippine Women’s University on April 1, 8 a.m., at the Philippine International Convention Center.

On its 88th year, the PWU will also confer on Ambassador Baja the degree of Doctor of Laws, honoris causa. Special guests Loreen Arbus, philanthropist and advocate of the arts and broadcast communications of Washington, D.C., will be conferred an honorary degree of Doctor of Humanities, and Carl Tiedemann, chair and chief investment officer of the Tiedemann Trust Company of New York, will be presented the Conrado Benitez Heritage Award.

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