Secretary Renato Velasco, director-general of the Philippine Information Agency and House Committee Chairman on Economic Affairs, Rep. Joey Salceda, will be the key speakers to the PIA-initiated event. Working under the theme "Ang Pagtataas ng Buwis sa Gobyerno ay Pagtataas ng Serbisyo sa Tao," the activity aims to enhance understanding and appreciation of the RVAT law as part of the national government's long-term vision to becoming a First World nation in 20 years.
Velasco will present an overview of the RVAT while Salceda will tackle the numerous gains that will be reaped by the country with more government revenues.
The RVAT, expected to rake in billions in revenues, will not only address fiscal budget deficit but will also be set aside in improving the delivery of basic social services particularly in the areas of education, health, superior infrastructure and provide more livelihood opportunities.
As the additional two percent EVAT took effect this month, the Bureau of Internal Revenue Regional Office (BIR 13) earlier bared that it is projected to collect P35-billion at the end of the year. The amount is on top of the estimated P81-billion collection with the existing 10 percent EVAT implemented last November. - Gregg M. Rubio