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Manila Bulletin devider Philippines devider National devider Escudero: Marcos administration should act on uncollected P200B taxes

Escudero: Marcos administration should act on uncollected P200B taxes

Published Jul 11, 2022 01:41 pm

Senator Francis ‘’Chiz’’ Escudero said today, July 11, the Marcos administration should act on uncollected P200 billion which is far more than any projected revenue of the new taxes it is mulling.

‘’I think the first order of business for the new Finance Secretary is to plug loopholes, clean up and make collection of existing taxes and duties by the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC),” Escudero pointed out.

‘’With nearly ₱200 billion in uncollected taxes lost to either corruption and/or inefficiency, this is by far more than any projected revenue of the new taxes he is mulling,’’ he added.

Escudero issued this statement when asked for reaction on plans to tax single-use plastics and online purchases, including subscriptions to streaming apps like Netflix.

‘’Its always easier to go for imposing new, or increasing whatever existing, taxes in order to raise revenues for government,’’ he said.

‘’However, this is burdensome and is not in keeping with the times (of slow economic growth, increased unemployment and rising inflation,’’ he pointed out.

In another development, Senator Ramon ‘’Bong’’ Revilla Jr. said he would refile his Resolution 410 filed in May 2020 seeking to ask the Senate committee on ways and means to look into the collection of taxes from “multi-national online streaming services and the digital economy in general.”

“It is good Secretary Benjamin Diokno and the Finance Department are looking into it now. As I said before, there is a need to embrace existing conditions, and to comprehensively review and update our existing tax laws regarding digital economy,’’ he stressed.

“Ang mga revenues galing dito can help finance the national economic recovery plan, lalo na ang pag angat ng buhay ng ating mga kababayan (Revenues from these sources could help finance the national economy recovery plan and aid in improving the lives of our countrymen),”he said

Revilla said multinational corporations should be properly taxed given the outdated provisions and leakages in tax measures.

“Sabi ko rin nga noon, yung mga technologically-advanced na bansa (As I have said it before, technologically advanced countries such as) — Norway, Australia, Japan, France, South Korea, United Kingdom, Singapore, and Malaysia - meron na silang digital service tax laws (have digital service tax laws),” he pointed out.

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