Balisacan rejects VAT cut bills

Instead of enacting a tax holiday or reducing the 12-percent value-added tax (VAT), the government should focus on ramping up the enforcement of existing tax measures to achieve the medium-term fiscal program (MTFP), the national socioeconomic planner asserted.

- By DERCO ROSAL

“What we want to avoid are any measures that erode our revenues,” Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan told reporters on the sidelines of the European Chamber of Commerce of the Philippines’ (ECCP) European-Philippine Business Dialogue (EPDB) on Thursday, Oct. 16.

“In fact, what we should do is strengthen and improve the enforcement and implementation of our tax measures to ensure that we’ll achieve this medium-term fiscal framework (MTFF),” Balisacan said.