Philippines Refines Tax Bills to Consider CPI, Growth: Recto

Philippines’ Department of Finance to push for passage of “refined” tax measures that are meant to “maximize the gains, minimize the pain,” Secretary Ralph Recto says in a statement.

• These priority bills include those imposing value-added tax on digital service providers, excise tax on single-use plastics, rationalizing mining fiscal regime and the fourth tax reform package
• Recto, who was confirmed by lawmakers on Wednesday, urges Congress to pass measures within the year
• Bills were tweaked to consider current economic situation, as well as impact on inflation, growth in certain sectors
• Recto says urge to “inflict taxes” must take a backseat ...