Angara welcomes Duterte’s promise to cut income tax rates
MANILA, Philippines—Sen. Juan Edgardo “Sonny” Angara on Monday welcomed President Rodrigo Duterte’s promise to cut income tax rates, vowing to push for legislation that would see its fruition.
“I am happy with President Duterte’s statements and we should give momentum to the push to reform our tax system,” said Angara, the chief lawmaker who proposed to lower income tax rates, factoring in inflation.
“If I am given the leadership of the ways and means committee, we will prioritize these measures but we will need the help of the Lower House since all tax measures must originate from them under our Constitution,” he said.
The Duterte administration had earlier said it was planning to bring down tax rates from the current 32 percent to 25 percent, leaving wage-earners with more to spend on their own.
Angara had staunchly pushed for lower income tax rates in the last Congress, pegging deductible taxes to income brackets. TVJ
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.