The evils of VAST–Part 2

As mentioned in Part 1 of this article, the removal of the input-tax credit mechanism, which is the best feature of the value-added tax (VAT) system makes the VAST a multistage general-turnover tax, plain and simple. The reduction of the rate from 12 percent to 6 percent makes it palatable on the surface, especially to the general consuming public, but its impact on the prices of goods, on the competitiveness of Philippine exports, on the survival of small and medium enterprises, and on the erosion of government revenues is grave.

2011 FORECASTS ON F& A OUTSOURCING

By:  WILMA INVENTOR MIRANDA

For the past years I always started the year with a forecast on the industry because in the process I also benefited from the research for I really need to update myself on outsourcing issues being part of the industry for so long.

According to the 2011 predictions of Everest Research Institute, Finance and Accounting Outsourcing (FAO)  market will experience an impressive 20% growth (year-on-year) in  terms of Annualized Contract Value (ACV) in 2011.   This is the same growth experienced in the past before the recessionary period came in.  The renewals in Total Contract Value of an estimated $2billion will contribute to such growth with expansion of the scope of services.