Lacson keeping an open mind on TRAIN 2 proposal

After voting against the first package of tax reforms, Senator Panfilo Lacson said he is keeping an open-mind on its second package.

The second package, which has yet to be filed in the Senate, seeks to lower corporate income tax rates and rationalize certain fiscal incentives given to investors.

Lacson said he has not yet read the proposal but said, “I am open-minded…”

“I’m willing to have an open mind pagdating ng committee hearings at deliberations sa floor [when it comes to committee hearings and deliberations on the floor],” he said.

And since the proposal would be initiated in the Senate by Senate President Vicente “Tito” Sotto III, Lacson said he is more or less inclined to support the Senate leader.

The Senate leader was expected to file the measure this week.

“All that I can say kay SP Sotto is, may the brute force be with him,” said Lacson, one of the four senators, who voted against the first package called the Tax Reform for Acceleration and Inclusion (Train) law.

READ: Congress ratifies tax reform bill

The senator has been pushing for the lowering of the value-added tax from 12 percent to 10 percent.

And to offset the expected losses, Lacson is proposing a review of the 143 VAT exemptions. /jpv