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Phoenix Petroleum to pre-pay 2017 taxes in support of CTRP

Phoenix Petroleum has announced plans to voluntarily pre-pay excise taxes due for its gasoline and petroleum-based product sales in 2017 to demonstrate its full support for the Comprehensive Tax Reform Program (CTRP) of the Duterte Administration. This is the first time any oil company has volunteered to pay its taxes in advance in a show Read More

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Ex-President GMA urges Congress to pass tax reforms as one package

The government’s experience in 2009 of a massive erosion in revenues as a result of the Congress’ failure the year before to approve a revenue-neutral package in its entirety underscores the necessity of passing the proposed Comprehensive Tax Reform Program (CTRP) of the Duterte administration in full or as one package. Sharing her “sad experience Read More

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Clean Air Asia backs DOF tax reforms

An international nongovernment organization advocating clean air initiatives is backing the Department of Finance (DOF)-proposed reforms in excise taxes on fuel and vehicles as an effective measure to raise additional revenues while curbing air pollution by reducing the “wasteful consumption” of fossil fuels. Clean Air Asia also lauded the Philippine government’s plan to use part Read More

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‘Ambitious’ CTRP wins support in Congress

The senior vice chairperson of the House committees on ways and means, on appropriations and on economic affairs has given his full backing to the Duterte administration’s resolve to make the Comprehensive Tax Reform Program (CTRP) “ambitious” enough to transform the Philippines into an upper-middle income economy by 2022 and a high income one in Read More

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DOF welcomes House panel move to “approve in principle” tax reform package

Finance Secretary Carlos Dominguez III has welcomed the move by the House committee on ways and means to “approve in principle” the first phase of the Duterte administration’s Comprehensive Tax Reform Package (CTRP). Dominguez said the decision of the committee to pass tax reforms as a package rather than on a piecemeal basis is a Read More

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TUCP, FINEX lead groups for DOF income tax reforms

Various organizations led by the Trade Union Congress of the Philippines (TUCP), Financial Executives of the Philippines (FINEX) and the National Tax Research Center (NTRC) are backing the “long-overdue” reforms in personal income tax (PIT) rates proposed by the Department of Finance (DOF) along with other measures to make the tax system simpler, more equitable Read More

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Tax reform “key link” to redeeming PHL future—Dominguez

Finance Secretary Carlos Dominguez III has underscored the importance of public diplomacy to win popular support for the Duterte administration’s proposed Comprehensive Tax Reform Program (CTRP) by convincing ordinary Filipinos that an overhaul of the outdated tax is the “key link” to “redeeming the country’s future.” “It is important for us to quickly conduct public Read More

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Cabinet execs bat for speedy passage of DOF’s CTRP in Congress

Members of the Duterte Cabinet have appealed to the Congress to swiftly pass the proposed Comprehensive Tax Reform Program (CTRP) that will empower government to overhaul the country’s obsolete tax system to make it simpler, fairer and more efficient while raising funds for its unprecedented public investment program. Seven department secretaries and five undersecretaries have Read More

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Cabinet officials pitch support for CTRP before Congress

Seven Cabinet Secretaries and five undersecretaries came in full force at Monday’s hearing of the House ways and means committee on the proposed Comprehensive Tax Reform Program (CTRP) to demonstrate their unequivocal support for this highly progressive and ambitious plan that aims not only to make the country’s outdated tax system simpler and fairer but Read More

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NG’s deficit spending to prop up high—and inclusive—growth agenda

Finance Secretary Carlos Dominguez III stressed today that although the budget deficit incurred by the national government (NG) hit P353.4 billion in 2016, or P231.7 billion higher than the year-ago figure, it was well within the Duterte administration’s target of 2.7 percent of the Gross Domestic Product (GDP), in keeping with its commitment to start Read More

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