Finance Secretary Carlos Dominguez III is confident the timetables set by President Rodrigo Duterte on the submission of all comprehensive tax reform packages to Congress by end-July will be met, as well as the signing into law of the second package by yearend that will reduce corporate income taxes.
Dominguez said in a statement the Department of Finance would extend all the technical support needed by Congress in heeding the President’s call for the passage of the second package this year for the benefit, especially of the small and medium enterprises.
“The DoF commits itself to the President’s stated deadline. Tax reform will bring about growth with equity and heightened productivity that will help us attain our aspiration to be a high middle-income country by 2022, lifting one million Filipinos from poverty every year,” Dominguez said.
“The administration is serious about tax reform, and it is definitely serious about having package 2 signed by the end of the year,” he said.