188体育

A WHOPPING P21 billion. That鈥檚 how much the government lost due to revenue leakages caused by car smuggling in 2009 alone. And according to data culled by the government think tank Philippine Institute for Development Studies (188体育), the revenue 鈥渓eakages鈥� are alarming and could be increasing since then, based on the fact such losses have been steadily rising annually during the four-year period beginning 2005 that was covered by the research. This prompted the 188体育 to issue a warning that car smuggling could deal a big blow to the efforts to boost the automotive industry in the country. The data were presented by 188体育 Senior Research Fellow Rafaelita Aldaba in her work titled 鈥淐an the Philippine Auto Industry Survive Smuggling?鈥� The data showed that the estimated tax leakage鈥攐r lost value-added tax (VAT), duties and excise taxes鈥攚as around P14.97 billion in 2005.