Recto’s 1st order as Finance chief: Collect P4.3 trillion worth of taxes

MANILA, Philippines — Newly sworn-in Finance Secretary Ralph Recto said his first marching order is to collect more or less P20 million worth of taxes daily to support the country’s needs.

Recto took his oath before President Ferdinand Marcos Jr. on Friday, after which he spoke to the media in a briefing.

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Asked what his first order was, Recto said that he was aiming to collect taxes amounting to P4.3 trillion.

“Every night, when I wake up in the morning, dapat ang na-collect na natin, more or less, P20 million, to fund all the needs of the people and the requirements of government,” said Recto.

According to the new Finance chief, P3 trillion would come from the Bureau of Internal Revenue and another P1 trillion from the Bureau of Customs. Another P300 million would then come from the Bureau of Treasury.

“It’s all about fiscal sustainability, and like I said, you have a national development plan to fund,” said Recto.

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