Philippine VAT to be Increased, from 12% to 15%; Cut Corporate and Income Tax Rates

Department of Finance Secretary Margarito Teves whose term finishes on June 30, 2010 suggested that the incoming administration should increase value-added tax (VAT) rate from 12% to 15% and cut other taxes such as the corporate tax and income taxes and approve pending reforms to strengthen the revenue collection and the budget position.

According to Finance Undersecretary Gil Beltran, the ratio of tax collection to the economy’s overall output was only 12.6% which is below the 16% average among South East Asian Nations (Asean).

Some other propositions include lifting redundant duty-free privileges enjoyed by some businesses and imposing a much higher excise tax on cigarettes and alcohol. Finance Secretary Margarito Teves also urge the incoming administration to pursue privatization of government assets.

The budget deficit last year was PHP 199 billion and is equivalent to 3.9% of GDP. But if the next administration will implement the proposal; the reforms on approving bills to rationalize fiscal incentives, restructure excise taxes on tobacco and alcohol products and simplifying net income taxation and corporate taxation would generate PHP 33 billion in the first year and if handled efficiently it can have a positive effect to the nation’s economy. The government budget deficit would decrease to 4.4% of GDP next year from the expected 3.6% this year.

The irony is President Benigno Aquino III firmly said that his administration would improve the fiscal situation of the country by collecting taxes rather than increasing tax rates.

Audio Books

What are audio books?
Audio Books are written materials put into recording by means of spoken words.

What are the advantages of audio books?
There are lot of advantages we can get from audio book, like:

• Reading can be made more easier . We can now left those bulky books and listen to audio books on our ipods, mp3, mp4 and mobile phones.
• Audio books are said to be valuable for learning.
• Learning while having fun. Listening to audo books is just like listening to music.
• We can repeat or replay as many times as we want on the part that is a little bit hard to understand

• We can multitask. We can do other things while listening to audio books, though it is not sot advisable because it may distract if what we are doing needs above average attention
• Audio Books are cheaper than books. There are lot of sites who are giving free audio books

Audio books are not compatible with my gadget?
audio books as of the moment comes from different formats but if it is not compatible with the gadget you have now, you can just convert it to the required format of your gadget. There are now softwares used to convert one audio format to the other.

I want to make my own Audio Book?
Audio Books are easily be made. There is that what you call the ordinary way of making audio books, and that is recording what you have read. the other way is using an audio book maker software.

Here is an example of an audio book that is I am pretty sure very helpful especially for those aspiring accountants and the password for these is macpako.

October 2009 Philippine CPA Board Exam Result

My Greatest Congratulations to all who have pass the Philippine CPA Board Exam.

Now is your turn to harvest what you have reaped for the past years of staying late at night,
reading, understanding and practicing solving problems.

You just don't know how happy your parents are, seeing the success of the fruits of their labor. The smile you brought to your teachers and the pride that you gave to your school.

To those who felt unlucky for not making it, Do not lose hope. It may not be youre time yet, but for sure with the help of aour Almighty God plus more hardwork you will not just be among the passers, but you will be part on the front page, together with those top placers.

Biography : Jose Garcia Villa

Name : Jose Garcia Villa
aka : Doveglion b. Singalong
Birth date : August 5, 1908
Parents : Simeon Villa (Emilio Aguinaldo's physician) and Guia Garcia

Educational Background
Secondary : University of the Philippines (UP) High School
College : UP College of Medicine, University of Mexico and Columbia University

Work Experience
- taught poetry for a while at the City College of New York, 1964- 1973
- worked in the Philippine Mission to the U.N., 1954- 1963 and became the vice consul in 1965
- teach professionals in his Greenwich Village residence

Achievements/Awards
- a collection of poetry was nominated for the Bollingen prize
- received the American academy of arts and Letter's Poetry Award
- the Shelley Memorial Award
- the Guggenheim, Bollingen, and Rockefeller fellowships for poetry
- received honorable in the Commonwealth Literary Awards, 1940
- first prize, UP Golden Jubilee Literary Contest,1958
- an honorary doctorate of literature, Far Eastern University, 1959
- Rizal Pro Patria Award, 1961
- Republic Cultural Heritage Award for poetry and short story, 1962
- honorary doctorate in literary form the UP, 1973
- On 12 June 1973, Villa was named National Artist in Literature

Contribution
- Philippine fiction critic
- made a selection of the best Philippine short stories in English as published in various
periodicals in the country. Inclusion in the list was deemed an honor and a recognition that one
had “arrived” in Philippine literature
- introduced his poetic innovations: the comma poems and reversed consonance

Thank you Panitikan.com

Biography : Carlos P. Romulo

Name : Carlos P. Romulo
Birth date : Camiling, Tarlac 14 Jan 1899
Died : 15 Dec 1985
Parents : Gregorio Romulo (formrer governor) and Maria Peña
Spouse : Virginia Llamas, Beth Day

Educational Background
Secondary : Manila High School
College : University of the Philippines
Masters : Columbia University (masters of arts)

Work Experience
- taught English at UP
- held several positions in newspapers like the Philippine Herald and Manila Tribune
- associate editor, the Citizen, 1919
- editor in chief, T-V-T Publications, Manila, 1931
- member, Board of Regents, UP, 1931- 1941
- publisher, D-M-H-M Newspapers, Manila, 1937- 1941
- secretary of Public Information and Public Relations, Pres. Manuel L. Quezon's War cabinet,
Washington DC, 1943- 1944
- resident commissioner of the Philippines to the United States, 1944- 1946
- chief of the Philippine Mission to the United Nations 1945- 1954
- Secretary of Foreign affairs, Pres. Elpidio Quirino's cabinet, 1050- 1952
- Ambassador to the United States, 1952- 1953, 1955- 1962
- secretary of Education and concurrent UP president, 1962 – 1968
- minister of Foreign Affairs
- and member, Batasang Pambansa (representing National Capital Region)

Achievemnts / Awards
- founding member of the Philippine Academy of Sciences and Humanities
- member of Alpha Phi Omega, Phi Kappa Phi, National Press Club (Washington DC) and the
National Research Council of the Philippines
- received honorary degrees from Notre Dame University, Indiana 1935
- received honorary degrees from University of Athens, 1948
- received honorary degrees from Harvard University, 1950
- received honorary degrees from Chungang University,Korea, 1961
- received honorary degrees from Thammasat University, Thailand, 196
- received honorary degrees from University of California, 1965
- Pulitzer prize for journalism, for work in the United Nations for peace, 1947 and 1948
- Golden Heart Presidential Award, 1954
- Hellenic University Award of Philadelphia Award, for his book, Crusade in Asia, 1955
- Republic Cultural Heritage Award, 1965
- Rizal Pro Patria Award, 1971
- World Peace Award from the World federalists association of New York, 1976
- National Artist in 1984

Contribution
- founding member of the Philippine Academy of Sciences and Humanities

Writeups
- Daughters for Sale, 1924
- Rizal, A Chronicle Play, 1926
- Juli, 1927
- Better English, 1924
- College Composition, 1925
- I Saw the fall of the Philippines, 1942
- Mother America, 1943
- My Brother Americans, 1945
- I See the Philippines Rise, 1946
- The United (a novel), 1951
- Crusade in Asia, 1955
- The Meaning of Bandung; The Magsaysay Story, 1956, with Marvin M. Gray
- Friend to Friend, 1958 with Pearl s. Buck
- I walked With Heroes (autobiography), 1961
- Mission to Asia; The Dialogue Begins, 1964
- Contemporary Nationalism and World Order, Identity and Change: Towards a National
Definition, 1965
- Evasions and Response, 1966
- The University and external Aid; Clarifying the Asian Mystique
- In the Mainstream of Diplomacy

Thank yu panitikan.com