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Malaysia, likewise, removed its peg on the US dollar in favor of a managed float, allowing its currency to appreciate for the first time in seven years.
[DatePublished] => 2005-07-25 00:00:00 [ColumnID] => 135252 [Focus] => 0 [AuthorID] => 1357954 [AuthorName] => Ignacio B. Gimenez [SectionName] => Business [SectionUrl] => business [URL] => ) [2] => Array ( [ArticleID] => 267768 [Title] => Arroyo urges speedy VAT bill passage [Summary] => President Arroyo said yesterday the proposed increase in the value added tax (VAT) to 12 percent and the lifting of its exemptions could raise as much as P60 billion additional revenues for the deficit-strapped government.
Mrs. Arroyo called on Congress to speed up the passage of the proposed VAT bill which seeks to increase the collection of value added taxes from the present 10 to 12 percent.
The President made the appeal to lawmakers following the passage of the Lateral Attrition bill at the end of the three-day special session last Friday.
[DatePublished] => 2005-01-09 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1804833 [AuthorName] => Marichu A. Villanueva [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) ) )
Malaysia, likewise, removed its peg on the US dollar in favor of a managed float, allowing its currency to appreciate for the first time in seven years.
[DatePublished] => 2005-07-25 00:00:00 [ColumnID] => 135252 [Focus] => 0 [AuthorID] => 1357954 [AuthorName] => Ignacio B. Gimenez [SectionName] => Business [SectionUrl] => business [URL] => ) [2] => Array ( [ArticleID] => 267768 [Title] => Arroyo urges speedy VAT bill passage [Summary] => President Arroyo said yesterday the proposed increase in the value added tax (VAT) to 12 percent and the lifting of its exemptions could raise as much as P60 billion additional revenues for the deficit-strapped government.
Mrs. Arroyo called on Congress to speed up the passage of the proposed VAT bill which seeks to increase the collection of value added taxes from the present 10 to 12 percent.
The President made the appeal to lawmakers following the passage of the Lateral Attrition bill at the end of the three-day special session last Friday.
[DatePublished] => 2005-01-09 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1804833 [AuthorName] => Marichu A. Villanueva [SectionName] => Headlines [SectionUrl] => headlines [URL] => ) ) )
By Ignacio B. Gimenez | July 25, 2005 - 12:00am
By Marichu A. Villanueva | January 9, 2005 - 12:00am