Latest Breaking News On - Nd corrective tax measures quot these include the expansion of value added vat base by removing ineffective exemptions except for some sectors - Page 1 : comparemela.com

MANILA - The outgoing Duterte administration is still looking for ways to address the country's PHP12-trillion debt, Malacanang said Thursday. "Reducing the country's debt remains a priority," acting Presidential Spokesperson and Communications Secretary Martin Andanar said in a press statement. President Rodrigo Duterte's economic team, Andanar said, has proposed a fiscal consolidation and resource mobilization plan to pay off the country's huge debt. Andanar said the proposal contains "fair, efficient, and corrective tax measures." "These include the expansion of value added tax (VAT) base by removing ineffective VAT exemptions except for some sectors, among others, to generate revenues," he said. Andanar, however, acknowledged that the outgoing economic managers' recommendations are "subject to the consideration of the next Administration." The national government's outstanding debt rose to a new high of PHP12.68 trilli

Rodrigo duterteMartin andanarBureau of treasuryPresidential spokespersonCommunications secretary martin andanarManila the outgoing duterte administration is still looking for ways to address country 39s php12 trillion debtAlacanang said thursday quot reducing the country 39s debt remainsa priorityUot acting presidential spokesperson and communications secretary martin andanar said ina press statement president rodrigo duterte 39s economic teamNdanar saidAs proposeda fiscal consolidation and resource mobilization plan to pay off the country 39s huge debt andanar said proposal contains quot fairNd corrective tax measures quot these include the expansion of value added vat base by removing ineffective exemptions except for some sectorsMong othersO generate revenuesUot he said andanarCknowledged that the outgoing economic managers 39 recommendations are quot subject to consideration of next administration national government 39s outstanding debt rose toa new high php12 68 trillion in march for 10 yearsHe next administration needs to raise incremental revenues of up php249 billiona year avoid accumulating new debts pay for maturing