Finance Secretary Benjamin E. Diokno welcomed the decision of the Supreme Court affirming the constitutionality of the Tax Reform for Acceleration and Inclusion (TRAIN) Act amid petitions claiming the law to be “anti-poor” and unlawful. The Supreme Court dismissed the petitioners’...
The Supreme Court's (SC) affirmation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law emboldens the House of Representatives--particularly the Committee on Ways and Means--to continue pursuing tax reform measures. Albay 2nd district Rep.Joey Salceda (Facebook) “The ruling upholding...
Individual taxpayers will get income tax breaks next year, providing Filipino consumers additional purchasing power, but would result in billions of foregone government revenues. This is because the second tranche reduction in personal income tax as mandated under the Tax Reform for Acceleration...
With 258 congressmen voting "yes", the House approved on third and final reading Monday afternoon, Nov. 14 the fourth package of the government’s Comprehensive Tax Reform Program (CTRP). (PPAB) Formerly known as the Passive Income and Financial Intermediary Taxation Act (PIFITA), the fourth...
House Ways and Means Committee Chairman Albay 2nd district Rep. Joey Sarte Salceda is confident that, by year end, the government will have hit its economic growth targets. This, despite the fact that the Philippine economy slowed down to 7.4 percent in the second quarter of 2022. Albay 2nd...
Finance Secretary Benjamin E. Diokno has committed to pursue the passage of the remaining tax reform packages that were left behind by the Duterte administration involving real property valuation and financial taxation. Once in the 19th Congress opens, Diokno said the Marcos administration would...
The Department of Finance (DOF) reported that the comprehensive tax reform program (CTRP) initiated by President Duterte since he took office has yielded more than half a trillion pesos in fresh government revenues. In a report to Finance Secretary Carlos G. Dominguez III, the DOF’s Domestic...
House Ways and Means Committee chairman, Albay 2nd district Rep. Joey Salceda insisted that the proposal to remove value-added tax (VAT) on power generation and excise taxation on fuel source is not possible without legislation. Albay 2nd district Rep. Joey Salceda (File photo/ MANILA BULLETIN)...
Economist and Albay 2nd district Rep. Joey Salceda says that to pay off the country’s Covid-19 debts, the next administration will have to generate around P326-billion in yearly revenue. Albay 2nd district Rep. Joey Salceda (Photo from Joey Sarte Salceda FB) As of January 2022, the Department of...
The Department of Finance (DOF) remains optimistic that Congress will pass this year the remaining tax reform packages that aim to reform the property valuation system and simplify capital market taxation. After the legislature was able to act on a slew of economic liberalization bills in 2021,...
The Philippines should continue to adopt fiscal reforms, particularly tax reforms still pending in Congress, to sustain these fiscal gains, the Department of Finance (DOF) said. Based on its latest DOF economic bulletin, it noted that the recent fiscal reforms have boosted the government’s tax...
The Department of Finance (DOF) has urged the Senate to help guarantee the Philippines’ "strong economic rebound" from the lingering pandemic by swiftly approving the Duterte administration’s remaining economic reform measures. Finance Secretary Carlos G. Dominguez Finance Secretary Carlos G....
