MANILA, Philippines— The Aquino administration will not impose new taxes, at least for now, according to President Benigno Aquino III.
“At this present time, none of my economic managers are indicating there is such a need (to impose new taxes),” President Aquino told reporters on Tuesday after attending a mass oath taking of new officials in Malacañang.
The President said that the “priority” has been and would be for the government to improve the efficiency of its tax collection efforts.
In fact, he said that his economic team has been expecting a “severe upward turn” in the government’s tax collections.
“Since people know we are dead serious in pursuing our collections, we expect (tax collections) to surge,” Mr. Aquino said.
But he also said the economic team would review the country’s fiscal status to determine the need to impose new taxes in the next few years.