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Philippines Says VAT on Toll Starting Oct. 1 to Boost Revenue

Sept. 15 (Bloomberg) -- The Philippines may raise an additional 2.3 billion pesos to 3.3 billion pesos annually by collecting value-added tax on toll roads starting Oct. 1, Bureau of Internal Revenue Commissioner Kim Henares said.

“It will not have that great an impact” to the public, Henares told reporters today in Manila. The bureau, which collects more than 60 percent of the government’s annual earnings, is “working hard” to meet its 940 billion pesos target this year and will report August performance tomorrow, Henares said. It filed tax complaints against two doctors and two lawyers today before the justice department.

To contact the reporter on this story: Joel Guinto at jguinto1@bloomberg.net

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net

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