The Duterte administration targets to pass the 2nd tax reform package or the Corporate Income Tax Reform and Fiscal Incentives.
Package three is also set to be passed within the year.
Finance Secretary Sonny Dominguez said that if Congress will pass the bill as law, this will fund the 25 percent of the 8-trillion peso target budget for the “Build, Build, Build” infrastructure program of the government.
“We would like to raise more or less something in the area of two trillion pesos for this, around 25 percent of the total,” said the finance secretary.
The official is confident that President Rodrigo Duterte will certify the bills as urgent measures.
Dominguez added that the effect of these tax reform packages on inflation will only be less than one percent.
The official also insisted that the tax due to taxpayers will not be very high.
“Because the other tax packages are not so much increasing taxes. It is just making it fair,” said the finance secretary.
If the Congress fails to approve the said bills, the target three percent of GDP deficit will not be maintained and the government must resort to cut its spending. — Rosalie Coz | UNTV News and Rescue
Package three is also set to be passed within the year.
Finance Secretary Sonny Dominguez said that if Congress will pass the bill as law, this will fund the 25 percent of the 8-trillion peso target budget for the “Build, Build, Build” infrastructure program of the government.
“We would like to raise more or less something in the area of two trillion pesos for this, around 25 percent of the total,” said the finance secretary.
The official is confident that President Rodrigo Duterte will certify the bills as urgent measures.
Dominguez added that the effect of these tax reform packages on inflation will only be less than one percent.
The official also insisted that the tax due to taxpayers will not be very high.
“Because the other tax packages are not so much increasing taxes. It is just making it fair,” said the finance secretary.
If the Congress fails to approve the said bills, the target three percent of GDP deficit will not be maintained and the government must resort to cut its spending. — Rosalie Coz | UNTV News and Rescue
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