The Duterte administration has assured that there will be no change in the value-added tax exemption for senior citizens and persons with disabilities.
Department of Finance Undersecretary Karl Kendrick Chua announced the good news in a press briefing in Malacañang yesterday.
Chua said that the tax reform measures aim to decrease the poverty rate from 22 percent to 14 percent and make the Philippines a middle-income country by 2022, and the tax reform is part of President Duterte's 10-point socioeconomic agenda.
Fuel tax hike to raise P807.4B
MANILA – About Php807.4 billion in additional revenues will be available to fund infrastructure projects until 2022 if the proposed hike in oil excise taxes is approved as soon as possible.
“This is a highly progressive tax because we will be removing subsidies on the fuel consumption of the top 10 percent of households with monthly incomes of around Php115,000 and above who consume almost 51 percent of fuel in the country,” Department of Finance Undersecretary Karl Kendrick Chua said.
Last week, House Ways and Means panel head Rep. Dakila Carlo Cua filed House Bill No. 4774, which contains DOF's proposals under its Comprehensive Tax Reform Program.
Smart successfully tests
cell broadcast technology
Smart Communications has successfully tested its cell broadcast technology in key areas of the Philippines, including Metro Manila, a press release from the firm said yesterday.
The company invested about P500 million in this messaging platform to enable the National Disaster Risk Reduction and Management Council to quickly send alert messages to mobile phone users in specific areas facing natural calamities or other emergencies, it said.
This is in compliance with Republic Act 10639 or “The Free Mobile Disaster Alerts Act,” which mandates telecoms services providers to send free mobile alerts during times of calamities, it added.*