ADB: Property taxes, valuation key to bolstering gov t revenue bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Incoming Finance Secretary Benjamin E. Diokno would seek for consensus among lawmakers and members of the executive department before pursuing the Marcos administration’s own fiscal consolidation plan. New and higher taxes are not off the table, Diokno said in an interview with Manil
The Department of Finance (DOF) is proposing to defer the implementation of the reduced personal income tax (PIT) rate as well as the removal of certain value-added tax (VAT) exemptions as part of its fiscal consolidation program to address the country’s ballooning pandemic-induced debts. These
THE Philippines’s debt-to-gross domestic product (GDP) ratio soared to 63.5 percent in the first quarter, the highest in 17 years. This is also above the internationally recommended 60-percent threshold by multilateral lenders for emerging markets like the Philippines, and also the highest since the country’s debt-to-GDP ratio hit 65.7 percent…
Updating the country’s property valuation system is the correct way to impose a so-called “wealth tax” that local government units (LGUs) can impose on affluent individuals, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Monday, April 11, that LGUs can ge