Malacañang OK with new taxes planned by next administration

Published May 26, 2022, 1:27 PM

by Joseph Pedrajas

Malacañang sees no problem if the next administration decides to impose a new tax on some goods to pay for the country’s Covid-19 debt.

In a statement, Communications Secretary Martin Andanar said Thursday imposing new taxes, deferring personal income tax reductions and repealing some tax exemptions are, in fact, some of the proposals of the Department of Finance (DOF) to the incoming administration of President-elect Ferdinand Marcos Jr.

The move, he added, aims to raise the much-needed government revenues.

“However, we leave this matter, and other ways to mobilize resources, to the wisdom of the President-elect’s Economic Team,” Andanar added.

DOF Secretary Carlos Dominguez III said Wednesday the department’s proposed fiscal consolidation and resource mobilization plan is a “doable” set of measures that is “fair, efficient, and corrective” to make it up for the P3.2 trillion debts incurred for the country’s pandemic response. The plan will be pitched to the upcoming administration, the Finance department of which will be reportedly headed by Bangko Sentral ng Pilipinas Gov. Benjamin Diokno.