Malacañang yesterday said it was glad the American Chamber of Commerce of the Philippines (AmCham) has thrown its support behind the government’s proposed tax reform package.
Presidential spokesperson Ernesto Abella said AmCham’s support was a boost to the Duterte administration’s efforts to have Congress pass the proposed Tax Reform for Acceleration and Inclusion Act (Train).
“We are pleased with the expression of support of the American Chamber of Commerce of the Philippines on the Comprehensive Tax Reform Program,” Abella said in a statement.
‘Strong voice’
“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,” he added.
Abella said the tax reform program was aimed at helping poor Filipinos get out of poverty.
“The poor and the vulnerable, as the President’s economic team explains, are at the heart of our tax reform,” he said.
Abella said the proposed new tax measures were expected to raise P133.8 billion in 2018 to fund infrastructure and anti-poverty programs.
“With better infrastructure and social services, we would improve productivity and living standards of our people,” he said.
On Friday, the Department of Finance (DOF) issued a statement saying that the AmCham had expressed its support for the first package of the Duterte administration’s comprehensive tax reform program.
The DOF said that AmCham supported the bill not only because the additional revenues would be used to put up badly needed infrastructure, but it would also help fund social initiatives in education, transportation and healthcare.