It looks as though there may be some light peaking out at the end of the tunnel for Philippine President Gloria Arroyo. Shortly after staving off three impeachment bids yesterday Thursday, the Supreme Court ruled 15-0 to uphold the constitutionality of the Extended Value Added Tax E-Vat.
The tax initiative, suspended June 1, will remain under the temporary restraining order until the ruling becomes final. The opposition now has 15 days to file any appeals, although none are likely.
The law is an integral point in Arroyo's design to address the country's perpetual deficit. Since its suspension the major international rating agencies have put the...
