COMPREHENSIVE TAX REFORM?

"There is a simpler, more fair and more efficient tax system to promote investment, job creation and poverty reduction.The failure to reform the tax system is to raise them from poverty and to provide social services necessary to get out of poverty It deprives infrastructure and poverty is a more effective social contributor. "

To achieve the commitment of the president to Magrona Pavago, we need a comprehensive tax plan (CTRP) to accelerate poverty reduction and deal sustainably with inequality. In order to make a meaningful investment in our people and infrastructure to achieve our vision for the Philippines, we need to make tax system simpler, fairer, more efficient, more sustainable income source It is necessary to do.

The good news is that people are generally determined to carry out tax reforms. It is not merely a temporary tax reduction, but a comprehensive tax reduction. This sustainable comprehensive tax reform. I hope to pass the tax reform yet this year, even though this year it is not so, at least during this session of Congress. Congressmen understand the risk of not doing anything. Congress has enacted comprehensive tax reform over the past 31 years, but the change in the world since 1986 is shocking. Meanwhile, the global economy grew faster than the US economy, and other countries changed the tax system to enhance the attractiveness as investment destination. The longer the Congress is, the more we delay reform, we hurt ourselves.

Accelerated comprehensive tax reform (TRAIN) is a comprehensive tax reform program (CTRP) that we believe that President Duterte's government will correct tax deficiencies and make it simpler, more fairer and more efficient It is the first part. It also includes mitigation measures designed to redistribute some of the benefits to the poor. Through TRAIN, all Filipinos help to finance more infrastructure and social services to eliminate extreme poverty and reduce all people's inequality. In order to deal with the weaknesses of the current tax system, it is necessary to reduce and simplify personal income tax, simplify property tax and donation tax, expand VAT based, adjust consumption tax of oil and automobile, Collection tax etc. are being collected.