Congressmen said their initial misgivings about the Government’s Comprehensive Tax Reform Package were addressed.
This as they sought to justify their support for the approval of the Measure at the Lower House last night.
PBA Party List Rep. Jericho Nograles explained that his misgivings about the inflationary effect of the excise taxes on petroleum which is part of the package have been addressed. “ako isa sa mga una na nagtanong tungkol sa mga additional excise taxes on fuel i eblieve as early as Nov 2016 ako mismo nagtabong inexplain po mismo ng secretary of finance pati undersecretary of finance. yun po #1 quetsion ko kung aakyat ba presyo ng gasolina aakyat ba presyo ng bilihin yung sagot nila sa akin i foudn to be satisfactory inexplain nila abse don historical fact at data umabot presyo ng gasolina at disele ganung kalaki pero di lumaki presyo ng bilihin. di po aakyat presyo ng bilihin pero naglagay ng safeguard kung akayat ng mayasdo mataas ang price per barrel ng oil masuspend yung implementation ng excise taxes.”
ACTS OFW Party List John Bertiz for his part said government removed the proposal to impose a VAT on OFW remittances. “tinutulan natin just because of the imposition of 12% VAT sa mga remittances ng ating OFW alam naman natin yung perang pinapadala di naman antutulog eh..immediately ginagastos yan. hanggang nakaraang buwan andoon pa po yun and natutuwa naman tayo naging maayos naaprubahan ang ating request na tanggalin yan beside ang OFW meron na kaming binabayarang DST na every 20thousand they collect 300 pesos.”
Still the Makabayan Bloc is unconvinced.
Bayan Muna Rep. Carlos Isagani Zarate today hit the recently passed tax reform package saying that the proposed bill will effectively wipe out any savings by professionals from the lower income tax. “In our study, we found out that even without the additional expenses in education, water bills, some toiletries etc., a professional earning P25,000 a month with three (3) dependents would have to shell out P29,828.80 annually or around P2,500 monthly because of the additional taxes caused by the tax reform package,” said Rep. Zarate, citing data coming from the Department of Finance (DOF), Department of Trade and Industry (DTI), the Philippine Statistics Authority (PSA), industry insiders and from Senate Ways and Means Chairman Sen. Sonny Angara “If the lower income tax savings for a professional is P20k annually, then he or she is still P10k poorer with the tax reform package,” Rep. Zarate added.
Now that it has hurdled the House, the bill will be tackled by the Senate after the President’s State of the Nation Address next month.