FINANCE Secretary Carlos Dominguez III said the passage of the proposed comprehensive tax reform program of the government into law will ensure a more inclusive and high economic growth that will benefit the people in the years to come.
In a speech during a forum organized by the Manila Overseas Press Club held at the Manila Golf Club in Makati City Thursday night, Dominguez said the tax reform would be vital to create more jobs, reduce poverty and most importantly make the marginalized sectors of the society feel the trickling-down effects of the robust economy.
“… We have reached a make-or-break point…. The tax reform will make us into the club of the countries with high economic growth,” Dominguez said.
“The tax reform will ensure inclusive high economic growth and robust inflows that will allow the government to speed up the implementation of infrastructure projects,” Dominguez said, referring to the ambitious “Build, Build, Build” program.
He also said the passage of the tax reform program would be very timely as the Philippines neared its demographic sweet spot and that it would be very hard to employ the young Filipinos if the tax reform could not be passed into law.