Tuesday, October 11, 2005

Flat tax for Filipinos...

'Every tax ought to be convenient for the contributor to pay it. Every tax ought to take out and to keep out of the pockets of the people as little as possible' Adam Smith, The Wealth of Nation, 1776.
Philippines need Flat Tax (13%)for convenient tax collection. Flat Tax reduce tax evasion because the simplicity of tax payment removes the incentive to discount the government. Every income above 15,000 pesos, pays 13% tax. eVAT may continue to curb consumption as well as tax tourist and non-income producers but addicted consumers.

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