
Economy on the mend: Diokno says over P200B collected from tax reform
The Department of Finance (DOF) said the implementation of the Comprehensive Tax Reform Program (CTRP) generated P202.8 billion additional revenues in 2022.
The Department of Finance (DOF) said the implementation of the Comprehensive Tax Reform Program (CTRP) generated P202.8 billion additional revenues in 2022.
Vanity will not come cheap in the Philippines, after senators agreed Monday on a 10-percent tax on “non-essential” cosmetic procedures and surgeries.
The Senate junked the imposition of additional taxes on cosmetic surgeries in its version of the bill carrying the first tax reform package of the Duterte administration.
Sen. Sonny Angara said Thursday a number of senators were sill not convinced that President Rodrigo Duterte ‘s Tax Reform for Acceleration and Inclusion (TRAIN) would not hurt the poor with its plan to raise taxes on vehicles, il and sugar.
The Senate ways and means committee will prioritize the estate tax reform proposal of the Duterte administration, “by lightening the tax burden on a deceased’s assets in order to lighten the grief of the heirs”.
Election season is a poor time to discuss tax reform for the sake of lowering income taxes, Liberal Party (LP) standard-bearer Mar Roxas reckoned. “Let’s
President Benigno Aquino III is willing to listen to proposals from lawmakers on how to improve tax laws in the country. President spokesperson Edwin Lacierda