Palace lauds AmCham for backing tax reform plan

Presidential Spokesperson Ernesto Abella. PRESIDENTIAL PHOTO (FILE)

Malacañang said on Sunday the support of the American Chamber of Commerce of the Philippines (AmCham) on the Comprehensive Tax Reform Program was an “added strong voice” for its passage.

“We are pleased with the expression of support of the American Chamber of Commerce of the Philippines on the Comprehensive Tax Reform Program. AmCham has added a strong voice for the passage of the Tax Reform for Acceleration and Inclusion Act (TRAIN), which is now set for plenary deliberations in the Senate,” Presidential spokesperson Ernesto Abella said in a statement.

“The poor and the vulnerable, as the President’s economic team explains, are at the heart of our tax reform,” Abella assured.

The new tax measures, he said, are expected to raise P133.8 billion in 2018 to fund the government’s infrastructure and anti-poverty programs.

“With better infrastructure and social services, we would improve productivity and living standards of our people,” said Abella.

In a statement on Friday, the Department of Finance said the AmCham has backed the comprehensive tax reform program with two different versions filed in both chambers of Congress. /je

READ: AmCham backs tax reform plan