31.   Interest rates remain high as reforms such as the abolition of the gross receipts tax and the flotation of small savers bonds did not push through.

32.   The GOP governor called the elimination of all gross receipt taxes on energy for businesses and residences as the most important component of his plan.

33.   The government wants the documentary stamp tax on quick-turnover transactions and the gross receipts tax on banks to be abolished, Estrada said.

34.   Thrift banks have thrived in the country, especially in Metro Manila, because of the gross receipts tax exemption that they enjoy.