Philippine News » florencio abad

Abad: tax rebates instead of tax credits

Emy Jane Logro — Wed, 10 Aug 2011 11:48:39 +0000

The government is planning to distribute cash refunds in replacement to tax credit certificates under the proposed 2012 national budget.

“The study of Japan International Cooperation Agency affirms the findings of the Commission on Audit that TCCs are susceptible to irregularities in utilization and it is difficult to monitor,” Budget Secretary Florencio Abad said in a press release.

“Cash refunds, on the other hand, are less burdensome in terms of accounting and bookkeeping. Moreover, it promotes transparency that will have a positive impact on the country’s investment climate,” Abad added.

Abad also mentioned that the government will be allocating P8.3 billion by next year for the purpose of cash refunds.

Noynoy: Mar Is My Alter Ego

admin — Thu, 17 Jun 2010 17:32:07 +0000

“We have the same mind-set, the same vision. In effect, he is representing me in a lot of aspects to be able to get the necessary data,” Aquino announced in a press conference at his house in Quezon City as he shows support for his defeated running mate in the recent election.

“We are getting ready to govern, so why would I not utilize the talents of Senator Roxas?” he added.

Incoming president Noynoy Aquino tapped Mar Roxas to take charge of the presidential transition coordination team to ensure a smooth transition of power on June 30.

Aquino also included former Trade Secretary Cesar Purisima, Executive Secretary-designate Paquito Ochoa Jr., Liberal Party campaign manager Florencio Abad, and his daughter Julia Abad as part of the five-man transition team.