House of Representatives session hall (File photo) MANILA - Reelected Albay (2nd District) Representative Joey Salceda, chair of the tax committee, said Friday he will look for measures to fund the "Bayan Bangon Muli" (Nation, Rise Again) stimulus package being proposed by the incoming Marcos administration. Salceda particularly noted that it would be harder for the government to fund the spending package if it would create unwise tax exemptions, as he flagged the proposal of Energy Regulatory Commission Chair Agnes Devanadera to remove the 12-percent value-added tax (VAT) imposed on the generation charge. "I'll help (incoming) Speaker Martin (Romualdez) fully fund that package. Let's try to keep the fiscal space intact," Salceda told reporters in a message. Devanadera argued that the levy should be applied only on the distribution charge. Salceda explained that it is not legally possible as the Tax Reform for Acceleration and Inclusion (TRAIN) Law expressly
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(File photo) MANILA - A lawmaker on Wednesday said the new law strengthening the Sangguniang Kabataan (SK) would encourage youth participation and boost youth leadership in barangay affairs. Isabela Representative Faustino "Inno" Dy V said President Duterte's signing of Republic Act No. 11768 or the Sangguniang Kabataan (SK) Governance Reforms and Compensation Law would provide SK members with honoraria that would allow them to better focus on their work, particularly the planning and programming of youth projects in the country's over 42,000 barangays. Dy said providing SK members with honoraria would allow them to better focus on their work, particularly the planning and programming of youth projects in the country's over 42,000 barangays. "Naniniwala ako na ang SK ay hindi pang-liga-liga lang (I believe that the SK are not only meant for hosting leagues, and I believe our youth are capable of so much more. These reforms should help them level up to spearhe
(PNA file photo) MANILA - House Ways and Means Committee chair Representative Joey Salceda on Friday said he will request the Bangko Sentral ng Pilipinas (BSP) to draft legislation on the country's targeted financial sanctions (TFS) framework to combat terrorism financing and proliferation financing. Salceda emphasized the need for the country to implement more effective targeted financial sanctions to convince the Financial Action Task Force (FATF) to remove the Philippines from its "gray list" by next year. The FATF flagged the country for supposed inadequacies in the effectiveness of the targeted financial sanctions framework (TFS) for both terrorism financing and proliferation financing. "I don't think our current bank secrecy laws would allow for effective targeted sanctions. I've been a strong champion of relaxing our bank secrecy laws for tax purposes. It may be time to relax them for targeted sanctions as well," Salceda told reporters in a messag
Consumer prices in the Philippines grew at a faster pace in March to hit the quickest pace in six months and equal to the print recorded in October 2021, the Philippine Statistics Authority (PSA) reported on Tuesday.