MANILA, Philippines (AP) - Philippine President Gloria Macapagal Arroyo on Tuesday signed an amended value-added tax law, the biggest revenue-raising measure meant to plug the government's yawning budget gap.
Finance Secretary Cesar Purisima said the amended VAT law "caps the first phase of the Arroyo administration's economic reform agenda'' that envisages a lower public sector debt and a balanced budget by 2010.
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