Duterte cer­ti­fies tax re­form plan ur­gent

Panay News - - METRO -  By Prince Golez, Manila Re­porter

MANILA – Pres­i­dent Ro­drigo Duterte cer­ti­fied as ur­gent the ad­min­is­tra­tion’s pro­posed tax re­form pack­age.

In a May 29 let­ter ad­dressed to Se­nate Pres­i­dent Aquilino Pi­mentel III and House Speaker Pan­ta­leon Al­varez, Duterte di­rected Congress to im­me­di­ately en­act House Bill No. 5636, or the “Tax Re­form for Ac­cel­er­a­tion and In­clu­sion Act.”

The tax re­forms would bring about a “sim­pler, more eq­ui­table and more ef­fi­cient tax sys­tem char­ac­ter­ized by lower per­sonal in­come tax rates, a broader value-added tax base, and higher ex­cise taxes on oil prod­ucts and au­to­mo­biles,” Duterte said.

The mea­sure, the Pres­i­dent said, will sup­port gov­ern­ment spend­ing for in­fra­struc­ture pro­grams.

“The ben­e­fits to be de­rived from the tax re­form mea­sure will sus­tain­ably fi­nance the gov­ern­ment’s en­vi­sioned mas­sive in­vest­ments in in­fra­struc­ture, thereby en­cour­ag­ing eco­nomic ac­tiv­ity and job cre­ation,” he said.

Like­wise, the tax re­forms will fund planned in­creases in the bud­get al­lo­ca­tions for health, ed­u­ca­tion and so­cial pro­grams, Duterte said./

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