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In July 2007 the speaker of the Philippine congress Jose de Venecia told then IMF managing director Rodrigo de Rato on a visit to Manila that the Philippines would not be instituting new taxes based on Fund advice. However, finance secretary Margarito Teves announced in February that the finance ministry asked for technical assistance from both the IMF and the World Bank on the design of 'sin taxes'. The taxes on alcohol and tobacco have not been raised since 1997 despite inflation. The authorities hope the IFIs have sufficient experience with sin taxes in other countries to help them increase revenue. This text may be freely used providing the source is credited. This page is: <http://brettonwoodsproject.org/art.shtml?x=561073> Published: 1 April 2008 , last edited: 1 April 2008 Viewings since posted: 881 |
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