Despite tax goal to beat
By Mortz C. Ortigoza
CALASIAO – Despite the reduction of taxes to Filipinos this year by the Duterte Administration, a Bureau of Internal Revenue’s honcho who has tax goal to beat respects the national leadership’s decision.
Revenue District Office-4 Chief Merlyn Vicente said that the plan reduction dubbed as Tax Reform Program where income and corporate taxes would be affected has been studied by the government’s economic managers.
“Baka naman may na forecast, napag aralan ng government natin ng administration na kaya. Siguro hinde naman sila nagpo-proceed immediately to that if there is no proper study,” she stressed.
Economists who favored the Program cited that the reduction jibes with the forecasted 6 percent Gross National Product for this year.
Vicente understands the economics behind the reduction of the twin taxes that could stimulate the economy.
“Kung malo-lower iyong income tax so bigger naman iyong nagiging take mo montly, that will circulate it will increase”.
She explained that if people have been saving for taxes, the monies will circulate in the market and create more taxable jobs.
“Effect diyan more purchases if there are more purchases more savings on the part of our business tax payers. If more sales there will be more taxable income”.
RD0-4 collected almost P4 billion last year. Every year most RDOs in the country have been given a spike of 20 percent tax goal from the previous year's collection as part of their target. RDO-4 supervises tax collection in two cities and 14 towns in Central Pangasinan – the biggest tax office in the six revenue district offices in Region 1.
According to Finance Secretary Carlos Dominguez III, the Tax Reform Package that was approved last January this year will help the Duterte Administration realize its vision of reducing the poverty level to just 14 percent in the next six years from the present 21.6 percent and free six million Filipinos from the shackles of poverty.