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New income tax system proposed

If enacted into law, over four million Filipinos classified as low-income earners will be exempted from the new income tax system proposed by the Department of Finance.

The country’s biggest tax evaders face a possible travel ban as part of the intensified revenue campaign of the Duterte government.

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The stand of Finance Secretary Carlos G. Dominguez III against increasing the Value-Added Tax (VAT) rate from the current 12 percent to 14 percent is admirable not only because it is pro-consumers but also because it reflects the kind of government that we have now.

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MANILA, Philippines Senate President Juan Ponce Enrile conceded yesterday that Congress is partly to blame for giving tax incentives to the rich but continues to increase taxes on the poor. Enrile made this disclosure during the public hearing by a Senate finance sub-committee chaired by Senator Ralph G. Recto on the proposed 2012 R11.5-billion budget […]

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