Sign up | Log in



Home  >>   Daily News  >>Philippines>>Economy>>Tax reform to end decades of 'unjust' taxation, says DOF
NEWS UPDATES Asean Affairs    July 6, 2017  

Tax reform to end decades of 'unjust' taxation, says DOF

The proposed tax reform program of the Duterte administration is seen to end decades of "unjust" taxation and shift the tax burden to the ultra rich from the lower income majority of the population, Finance Secretary Carlos Dominguez III claimed on Wednesday.

"The reform package will end decades of unjust taxation that polarized wealth rather than distributed it. It will help us build a robust middle class to ensure stability and sustainability in our nation’s progress," Dominguez said in his remarks during the Tax Reform Forum in Mandaluyong City.

"The tax reform agenda proposed by the Department of Finance is designated to shift the tax burden from the lower 99 percent of the community to the wealthiest 1 percent," the Finance chief emphasized.

The first package of the tax reform program, approved by the House of Representatives as House Bill 5636 or the Tax Reform for Acceleration and Inclusion (TRAIN) on May 31, seeks to lower personal income tax rates and, at the same time, adjust excise taxes and expand value added tax base as compensating measures.

HB 5636 is a consolidation of the original tax reform bill – HB 4774 – filed by Quirino Rep. Dakila Carlo Cua, and 54 other tax-related measures.

"The proposed tax reform package will end the complex and vulnerable revenue system we have in place," Dominguez said.

"It will ensure that our tax system is simple, just and efficient. It will ensure government a healthy and recurrent revenue flow to fund education, health and other social services. Our human capital, after all, is our biggest asset," he added.
The proposed reforms in tax policy will help reshape the country's economic growth to make it more inclusive, Dominguez noted. "It will help us end the pattern of wealth concentration that characterized our growth so far," he said.
The ambitious infrastructure program of the administration, which will be funded mostly from revenues generated from the tax reform, will further boost the economy, he said.

"The program will, at the same time, enable us to spur our economic expansion, create jobs through greater investment inflows and bring our far-flung communities to the mainstream of domestic trade," he said.

The tax reform will allow the Philippines to break out from the cycle of moderate growth and achieve a fast-growing, dynamic, and investment-driven economy, according to the Cabinet official.

"This is a conjuncture that allows us to join the ranks of tiger economies. We should not let this historic opportunity pass us," he said.
"If we fail to reform our tax policies at this time, we will miss economic opportunities that may never converge again. On the other hand, if we act promptly and decisively, we will have the means to bring the next generation of Filipinos to prosperity," he said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                          July 6, 2017 Subsribe Now !
• AMRO forsees stable growth ahead Subcribe: Asean Affairs Global Magazine
• National IIP up 6.2 per cent in H1
• Inflation decelerates to 2.8% in June
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Commonwealth Bank of Australia sells HCM City branch to VIB 
• Tax reform to end decades of 'unjust' taxation, says DOF
Asean Analysis                  June 30,  2017
• Asean Analysis June 30, 2017
Marawi Battle Highlights the Perils of a Stalled Peace Process in the Philippines
Advertise Your Brand

Asean Stock Watch    July 5, 2017

• Asean Stock Watch-July 5, 2017
The Biweekly Update
• The Biweekly Update  June 30, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand