Mar open to lowering income tax
MANILA — Liberal Party standard bearer Manuel “Mar” Roxas II said he is open to lowering income tax rates in the Philippines, but the former interior secretary was quick to pronounce that it will not happen anytime soon.
“Yes, definitely I’m open to it, but I don’t think it is wise to do this during the heat of a political campaign,” Roxas said in front of hundreds of entrepreneurs during the “Negosyo Talks” of GoNegosyo at the Manila Polo Club in Makati City Monday night.
Roxas thought some politicians are riding on the issue of tax cuts to boost their popularity for the 2016 elections in May.
“Okay why don’t we just say zero income tax kung papogian lang pala ito e, pero hindi naman pwede ‘yon,” said Roxas a former trade and industry secretary under the Estrada administration.
“Kung nabawasan ang pagkolekta ng buwis, pogi tayo sa lahat, pero may epekto ito sa ekonomiya, sa pagtaas ng interest rates, sa kakayahan ng pamahalaan na tustusan ang lahat ng mga programa na naghatid sa ating kaunlaran,” he added.
In his opening speech, Roxas explained the gains of good governance through the proper use of collected taxes and how the country earned the tag “brightest spot in Asia” in a span of five years.
“We have made substantial progress, we have invested in infrastructure, we have invested in health, education and we have invested in our biggest asset, our people,” the LP presidential bet said.
“Money was there, it was just the decision that was required to say ‘let’s invest in our people.’”
Early October, Roxas was criticized by his 2016 opponent Vice President Jejomar Binay for opposing the idea of income tax cut, insisting that government projects will be affected.