Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Photo by Tristan Tamayo/INQUIRER.netThe next time his Alaska brothers need him, Mike Harris vows to be readily available to help them bounce back from yet another Finals defeat.The winner of the PBA Governors’ Cup Best Import award said on Wednesday night that he will definitely be back for another tour of duty if the Aces would want him again. This after he claimed that someone from Magnolia disrespected him after the Hotshots won the crown at Ynares Center in Antipolo.ADVERTISEMENT Harris used the disrespect as fuel to help his team win two straight titles. He was also named Finals MVP both times—keeping him too busy to sign up with the Aces in 2010.“But it’s OK, don’t worry about it,” Harris said of the latest incident. “It’s part of the game [and] they’re excited. But it’s something I’ll never forget and it’s great fuel for next year if they (Aces) will have me [again].”Right now, he feels for his Alaska teammates.“It’s heartbreaking, especially with them,” he said. “But the team and the franchise are definitely making a step in the right direction.”And Harris wants to be there when the Aces finally step on Promised Land again.ADVERTISEMENT No.13 lucky for Orlando Bloom Japeth Aguilar embraces role, gets rewarded with Finals MVP plum After winning title, time for LA Tenorio to give back to Batangas folk Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college “They chased me for eight years [to get me here], so it’s my turn to chase them [Alaska management] for a few months now [to take me back],” Harris said after telling reporters what happened after the game.“They mocked us, it was just lack of respect,” said Harris, who didn’t go into mentioning the specific person behind the taunt. “[It was] total disrespect of character for a person to be like that, especially for someone of their age and respect in the league.”FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissThe series ended 4-2 after a 102-86 Magnolia win on Wednesday, though the final tally doesn’t really give an idea how close the series was.And coming so close, Harris said, that gave him the “fuel” to come back and do something he did in Puerto Rico—where something very similar happened while he suited up for Leones de Ponce. Petron holds off F2 Logistics for All-Filipino crown Nadine Lustre’s phone stolen in Brazil Sports Related Videospowered by AdSparcRead Next ‘Mia’: Rom-com with a cause a career-boosting showcase for Coleen Garcia Ginebra beats Meralco again to capture PBA Governors’ Cup title Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew MOST READ Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award LATEST STORIES Don’t miss out on the latest news and information. View comments
… threatens survival of manufacturing businessesA move by the Guyana Revenue Authority (GRA) to amend the excise tax on alcohol, essentially increasing the tax levied based on the strength of the alcohol, has now delivered a crippling blow to local manufacturers that use alcohol in its purest concentration.Many local manufacturing companies had complained last year about having to pay an alarmingly high excise tax of 40 per cent on alcohols that they would purchase locally from Demerara Distillers Limited (DDL). To that end, they requested government’s intervention to alleviate the burden plaguing the local manufacturing sector. Instead of getting relief from paying the 40 per cent in excise tax, manufactures now have to pay an incredulous 65 per cent for the neutral spirits they buy locally to use in the production of their goods and services.The alcohol purchased by manufacturers is referred to as extra-neutral alcohol or neutral spirits and is measured in Litres of Pure Alcohol (LPA). At the purchase strength of 96 per cent alcohol v/v (volume-volume) percentage, it is considered only suitable for industrial use or further processing.NEW GPC INC and Twins Manufacturing Chemists, two local manufacturers, had confirmed to this news agency that they use 96 per cent alcohol/neutral spirits to manufacture a diverse array of local products for the domestic and export markets.They noted that the charging of the excise tax on the alcohol significantly impacts the cost of production and therefore the competitiveness of their products against the increasing influx of cheaper imports.According to NEW GPC, further exacerbating the situation is the revelation that Value Added Tax (VAT), at 16 per cent, is also levied on the excise tax, which now stands at 65 per cent.Finance Minister Winston Jordan had outlined in his 2016 Budget presentation that his government would be increasing the excise tax as a means to bring “equity to the charging of excise tax on alcoholic beverages.”He had highlighted that “the intent is to introduce a graduated, specific rate system for the collection of excise tax on alcohol based on the alcoholic strength. This is deemed to be the most effective way of dealing with importers and domestic manufacturers of alcoholic beverages. It will also be easier for the Guyana Revenue Authority [GRA] to administer as well as reduce significantly, opportunities for manipulating the values of the goods for the purpose of taxation”.The manufacturers are questioning whether the Minister took into consideration the adverse effects that an increase of this type of tax would have on those manufacturing businesses that use 96 per cent alcohol/spirits in the production of their commodities, as opposed to those that use a lesser strength in the sale of alcoholic beverages.The trickle-down effects of the tax increases are significant when one factors in the slow turnover of the private sector and sloth of the economy.Most of the local manufacturing businesses that use neutral spirits of a high strength would now have to restructure to recoup their losses, possibly leading to persons losing their jobs and less monies circulating in the economy, thereby perpetuating the cycle of sloth.An alternative routeAccording to NEW GPC, if this situation is not rectified the company will seriously consider taking the route of importing alcohol as opposed to buying locally.Currently, it is cheaper to import the neutral spirit from Trinidad and Tobago because both the excise tax and value added tax are waived by the GRA under the existing tax legislation to incentivise local manufacturing.NEW GPC is calling on the Government to differentiate between alcohol utilized for manufacturing by local businesses and alcohol which is utilized at the consumer level to bring more clarity to the rationale between the tax increases.Any local businesses desirous of using alcohol as a raw material will have to endure the now onerous 65 per cent tax or import foreign alcohol – an alternative that is coincidentally inimical to the interests of another local manufacturer and the Guyanese economy.Alcohol is an input for many major industries such as cosmetics, food, beverages, hygiene and household products, etc.This application of the tax on a raw material, which was meant for “sin goods”, is considered inexplicable.