DoF: No new taxes, fiscal position remains robust

The Department of Finance (DoF) categorically refuted reports alleging the imposition of new taxes and stressed that there is no need for additional revenue measures at this time, given the government's robust fiscal position.

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Finance Secretary Ralph G. Recto on Tuesday said that the government is properly managing its finances, ensuring that public needs are met without burdening the citizenry with new taxes.

The Finance Chief explained that as the government's chief steward of fiscal discipline, the DoF upholds the vital responsibility of securing ample resources to safeguard the economy, especially in times of crisis.

"Strategic measures were prepared to ensure fiscal sustainability and provide necessary buffers amid rising global economic uncertainty due to political tensions, prolonged higher interest rates, and unpredictable trade policies. But given our current strong fiscal performance, these are not needed at this time," he said.

Secretary Recto particularly highlighted the strong double-digit growth of tax collections in the first quarter of the year, which reaffirms the country's fiscal stability.