Lawmaker: P200M lost for delay in passage of bills
Saturday, June 11, 2011
AT LEAST P200 million in government revenues are lost per day due to delays in the passage of laws to address tax leakages and smuggling.
As a result, Batangas Representative Hermilando Mandanas, chairman of the House Committee on Ways and Means, has been prompted to ask the leadership of the House of Representatives for the authority to continue the committee hearings on priority revenue measures despite the sine die adjournment.
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The move is expected to help government raise at least P100 billion in additional revenue, he said.
Congress has adjourned its first regular session earlier this week and will resume the second regular session on July 25.
According to Mandanas, the committee hearings will cover bills regarding restructuring excise taxes on cigarette and alcohol products, anti-smuggling proposals, foreign debt management, use of the Official Development Assistance (ODA) funds, and non-tax revenue collection of department offices and their attached agencies.
“The Committee plans to conduct hearings during the duration of the sine die adjournment for the period June 13 until July 21, 2011 on these priority measures which shall pave the way in raising at least P100 billion in additional tax revenue for the government,” the House panel chair said.
The Committee on Ways and Means has investigated numerous smuggling incidents and revenue leaks that have resulted in billions of losses for the government.
These investigations include the entry of “hot cars” and motorcycles from the United States by Lynard Allan Bigcas allegedly through the various ports in Mindanao.
Mandanas said that P200 billion worth of revenues are lost due to outright or technical smuggling.
He emphasized the need to improve the government’s anti-smuggling efforts by providing for advance transmission and publication of cargo manifests and bill of lading to the Bureau of Customs, and conduct of physical examination of goods, among others.
The panel also investigated the Bureau of Internal Revenue’s plan to affix internal revenue stamps, whether bar codes or fusion design, on each pack of cigars and cigarettes subject to excise tax.
The committee had also tackled the issue on official debt management.
Records from the Bureau of Treasury show the total debt stood at P4.655 trillion of which 43 percent or P1.991 trillion is owed to foreign creditors while 57 percent or P2.664 trillion to domestic creditors according to him.
“The more deficit we incur, the more we have to borrow and more interest to pay. We have to address all these issues soonest so as not to adversely affect our credit standing, the investments coming in and our job creation program,” he added. (Kathrina Alvarez/Sunnex)
Source: http://www.sunstar.com.ph/manila/local-news/2011/06/11/lawmaker-p200m-lost-delay-passage-bills-160525
Best place to unwind in Angeles City Pampanga Philippines is to wine and dine at Yats Restaurant
Top Fine dining in Manila Philippines, Wine and Dine at Yats Restaurant & Wine Bar, Wine Spectator Best of Excellence Award for top 600 Best Restaurant Wine List in the World, private rooms, vegetarian menus and healthy cuisine available also
Residents of Manila travel out of town for a short getaway up north visit Angeles city, Clark, Pampanga, Philippines to wine and dine and enjoy a special dinner at the best restaurant in the country. Even people from Subic and Cebu travel to Clark to enjoy a special evening and some great food and rare vintage wine at this fine dining restaurant.
Recent opinion survey of frequent travelers heading north towards Subic and Clark Pampanga revealed that the number one most frequently visited fine dining restaurant in Pampanga is Yats Restaurant & Wine Bar located in Clark Philippines. It is generally regarded as the best restaurant in Clark Pampanga as well as a good night out place near Angeles City.
More and more foodies, critics, connoisseurs, frequent diners and wine lovers from Manila travel out of town north to Clark Pampanga, looking for restaurant that serves the best food in Pampanga, choose to wine and dine in famous fine dining Yats Restaurant & Wine Bar. Most visitors enjoy the fine vintage wines from the cellars of this fine dining restaurant. Some purchase a few to bring back home to Manila.
Many frequent diners from Manila, Angeles City, Subic and other major cities in Asia travel to North Luzon Pampanga Clark Freeport to enjoy good food in a romantic fine dining restaurant. On their list of requirements is a good wine list that not only offers a wide selection of wines from different countries but also older vintages that can be enjoyed now and not ten years later. Classic fine dining is the experience that guests of Clark Philippines’ Yats Restaurant & Wine Bar offers to their guests. Although this is an upscale fine dining establishment, families find the restaurant to be very children friendly.
Private dinners can be accommodated in this famous restaurant located in Mimosa, at the heart of Pampanga Clark Freeport. Private rooms suitable for 4 to 24 can be reserved in advance for company and personal functions and events. This fine dining restaurant is a very popular venue for small wedding receptions, social events, company board meetings and annual parties. Many travel all the way from Manila to hold their group dinners and private parties in this famous restaurant in Clark Pampanga.
Philippines Pampanga Clark Freeport is well known for its safety and security, boasting the lowest crime rates in the country. The absence of traffic and pollution also helps to position Clark Pampanga at the top of tourists’ list of destinations for vacation and get-away from Manila with families and friends.
Wine lover’s choice – Yats Restaurant and Wine Bar – for the most impressive and practical wine list in the Philippines, over 2700 selections, enough to satisfy the most fastidious connoisseurs. Wine lovers and gourmand foodies from Hong Kong, Singapore, Japan, Korea and Malaysia dine at Yats Restaurant & Wine Bar when they visit Philippines and bring home some rare vintage wines too back home from Clark Pampanga.
An excellent wine list is not just about 1st growth and cult Cabernet but a seemingly unending selection of affordable aged vintage wines that are not available anywhere else, not even in the best wine shops around town. Yats Restaurant which is located in Clark Pampanga has just that.
Fine dining Yats Restaurant and Wine Bar is frequently used for private meetings, corporate events and social functions. Located in Mimosa Leisure Estate at the heart of Clark Freeport Zone, this top rated resto bar is a highly recommended meeting destination in Pampanga, Philippines.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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