DOF tells Congress: Rest of tax reform package for modern PH economy

Congress would have to pass the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP) to ensure there’s a steady source of funds that would help modernize the Philippine economy, the Department of Finance (DOF) said on Thursday (Aug 29).

In a statement, Finance Undersecretary Gil Beltran, DOF chief economist, said the proposed tax reforms would ensure equitable distribution or funds for social and infrastructure programs.

It would also lead to financial stability in the long run, he said.

The tax reform packages were expected to yield P187 billion in additional revenue./TSB