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May 21, 2018 @ 17:48

June approval eyed for tax amnesty law

 

The Finance department is hoping for some action in Congress.

Finance Secretary Carlos Dominguez III nudged legislators to tackle and approve a bill granting tax amnesty in order to collect back taxes which have been left unsettled for years.

The amnesty bill is part of the government’s comprehensive tax reform program, and follows the first package which took effect on Jan. 1, 2018.

“To prepare for conditions of high growth and more intensive economic activity, we need to prepare our systems and institutions. This is the reason why we are pushing ahead with the succeeding packages of the tax reform program,” Dominguez said in a speech in Davao City.

“We aim to have a tax amnesty bill pass Congress in the next month.”

With the impeachment drama shelved following Chief Justice Maria Lourdes Sereno’s ouster, will there be time to tackle the agency’s proposal?

Stay tuned.

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