JC Punongbayan takes a look at the Philippines tax system weknesses and 5 major reasons as to why it needs to be revamped.
President Duterte’s plan to overhaul our tax system is arguably his most highly-anticipated and consequential policy thus far into his term.
The plan, originally crafted by the Department of Finance, aims for a “simpler, fairer, and more efficient” tax system that will promote investments, create jobs, and reduce poverty. Many sectors have expressed support for it, including a group of former DOF and NEDA secretaries.
But some lawmakers have branded the tax proposal as “heartless” and “anti-poor” because of, say, the planned increase on fuel taxes. Others have also questioned certain spending items in the General Appropriations Act of 2017 that do not merit the additional revenues that tax reform will yield. Read more >
Author JC Punongbayan
News Site Rappler
Date Published January 1, 2017
Article Link The problem with our tax system and how it affects us
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