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THE Aquino administration has to impose new taxes as its tax administrative reforms are insufficient to meet fiscal balance in a sustained manner, according to a study by the National Economic and Development Authority (NEDA). In the study, “A Strategic Framework and Action Plan for Inclusive Growth...
"For 2011, the Aquino administration is aiming to advance the tax effort to 14.1 percent to support its proposed P1.645 trillion budget, which would entail a P290 billion deficit or about 3.2 percent of GDP."
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