Duterte certifies tax reform plan urgent
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./