What reform did Ramos implement for tax collection?
Value Added Tax Reforms
Luxury Tax
Flat Tax
Carbon Tax
Answer
Value Added Tax (VAT) Reforms were introduced during the presidency of Fidel V. Ramos in the Philippines. VAT is a consumption tax imposed on the value added to goods and services at each stage of the production and distribution process. The VAT Reforms aimed to simplify and modernize the country’s tax system by replacing multiple sales taxes with a single, value-added tax.
Fascinating Facts: The Fidel V. Ramos Quiz – Journey through the Presidency
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