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What is Moratorium on Revenue-Eroding Laws about?

A lawmaker urged Congress to set a moratorium on seven revenue-eroding measures that resulted in P112 billion in government losses from 2008 to 2010. The seven measures identified were: the Real Estate Investment Trust Law, VAT exemption for goods purchased by senior citizens, restructuring of documentary stamp tax, reduction of insurance premium tax, exemption of overseas Filipino workers from documentary stamp tax, exemption of local water districts from income tax, and creation of special economic zones.

Author

pribhor2

Language

EN