The Philippines has increased its tax take as a share to the economy in 2022, even as it lagged behind the regional average in collection efficiency. According to the Organization for Economic Cooperation and Development's (OECD) Revenue Statistics in Asia and the Pacific 2024 report, the...
The Department of Finance (DOF) said it will not seek the imposition of additional taxes this year and will instead temper tax hikes such as the proposed motor vehicles tax. “Frankly speaking, there are no plans of imposing additional new taxes. I think our first job is to collect what is on the...
The government plans to impose new and revised taxes to generate nearly P500 billion over the next three years, data from the Department of Finance (DOF) showed. Based on the DOF list of revenue measures submitted to Congress, the government has proposed eight tax initiatives that, once approved,...
Senator Sherwin Gatchalian said the government should address illicit trade in order to generate higher revenue collection and provide some relief for its limited fiscal space. Gatchalian made the appeal during the recent Development Budget Coordination Committee (DBCC) briefing in the...
Should the incoming Marcos administration make way for new taxes for the purpose of boosting government revenue? Albay 2nd district Rep. Joey Salceda (File photo/ MANILA BULLETIN) Economist-congressman Joey Salceda of Albay's 2nd district says it depends. "It depends on the kind of taxes. Not all...
UniTeam presidential candidate Bongbong Marcos doesn't favor the imposition of new taxes on Filipinos, saying it's not timely and would only further burden the pandemic-weary people. Presidential candidate Bongbong Marcos (Noel Pabalate/ MANILA BULLETIN) “Depends on what sectors and in what area...
