Hot Breaking News for Filipinos

Ba’t di na lang ayusin ang koleksyon? JV: New taxes ‘lazy way’ to raise revenues

0 90

Raising taxes is the “lazy way” to raise revenues, insofar as Senator JV Ejercito is concerned.

Ejercito made the remark on Sunday as he shared the view of Senate Minority Leader Frank Drilon on the need to rationalize fiscal incentives as a means to plug the revenue loopholes.

“That is the proper direction for improvement of revenue collection,” Ejercito said in a radio interview.

“Instead of raising taxes, I would rather that we make tax colletion more efficient,” he said.

Ejercito also intends to push for the collection of tobacco tax to serve as revenue source for Universal Healthcare Program.

“It will now be a revenue as well as a health measure,” he added.

On the other hand, Ejercito is lukewarm to the proposal to pass the package 2 of the Tax Reform Acceleration and Inclusion (TRAIN) Law.

The TRAIN 2 aims to rationalize tax incentives. TRAIN 1, on the other hand, simplified the tax system.

“I will not even think about considering the TRAIN 2 package unless I get clear guarantees from our economic managers that this measure will not result to more hardships for the Filipino people,” he said in a text message.

“This means that government economists need to provide us with accurate and well-studied data and, more importantly, exhibit complete transparency and honesty,” Ejercito said.

He added, “TRAIN 2 will derail if they feed us with the wrong information and engage in deception as they did when we were discussing TRAIN 1.”