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Array ( [results] => Array ( [0] => Array ( [ArticleID] => 199120 [Title] => Thrift banks not happy with 10% VAT [Summary] => The thrift banking system considers the 10-percent value-added tax (VAT) as a "disincentive" which runs counter to the calls of the National Government for more loans to the small and medium enterprises (SME) as well as the microenterprises.
In a position paper, the Chamber of Thrift Banks (CTB) said the VAT "will adversely affect hundreds of thousands of housing loan borrowers and SMEs . . . since VAT on interest on borrowings must be passed on to the borrower."
[DatePublished] => 2003-03-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097672 [AuthorName] => Ted P. Torres [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
abtest
By Ted P. Torres | March 16, 2003 - 12:00am
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