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August 15, 2008

VAT to fund P45-B infra, social services this year

By Michelle Remo

MANILA, Philippines -- Some P45 billion worth of social services and infrastructure development projects are programmed for implementation this year using funds generated from the value-added tax (VAT), according to the Department of Finance (DoF).

Of the total amount, P13.06 billion will go to social services, including feeding programs in public schools, scholarships for children of poor families, livelihood and health programs, and resettlement housing for squatters.

The bigger share of P32.33 billion will go to the construction of roads, bridges and railroads, flood control facilities, repair and construction of school buildings, irrigation projects, and the installation of airport and navigational facilities.

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Posted by boyang at August 15, 2008 6:09 PM