Gov't open to discuss income tax rate adjustment

ABS-CBN News

Posted at Jun 01 2014 03:42 PM | Updated as of Jun 01 2014 11:42 PM

MANILA - Malacanang is willing to discuss measures meant to lower the income tax rates of employees.

In an interview with radio dzRB, Communications Secretary Herminio Coloma Jr., however, noted that all stakeholders should take into consideration the need to bolster the budget to cover the needs of the social services sector.

“Bukas po ang ating pamahalaan para sa isang dayalogo at masusing pag-aaral ng mga opsyon na inihahain. Ang isinasaalang-alang lang po ay ‘yung pagkakaroon natin ng sapat na pondo para matustusan ang mga mahahalagang programa sa pagpapaunlad ng ating ekonomiya para huwag naman pong madiskaril ang momentum na atin nang natamo bilang isa sa pinakamabilis na umuunlad na ekonomiya sa buong Asya,” he said.

According to Coloma, a comprehensive study is needed since any measure such as this would affect the government’s coffers.

“Ang buwis po ang pinagkukuhanan ng pangtustos sa ating pambansang budget, at mahalagang magkaroon ng komprehensibong pagsusuri, pag-aaral, at pagtutuos ng mga mahahalagang konsiderasyon. At ito ay dapat isagawa ng ating pambansang pamahalaan sa pangunguna ng Department of Finance at ng Bureau of Internal Revenue sa pakikipag-ugnayan po sa ating mga mambabatas na kumakatawan sa ating mga mamamayan,” he said.

Several bills have already been filed in Congress seeking to lower the income tax rate, a measure that has been declared paramount by members of the Senate.

At the lower House, Deputy Majority Leader and Valenzuela City Rep. Magtanggol Gunigundo filed House Bill 4099, which seeks to lower individual and corporate income tax rates to 15 percent and 30 percent, respectively.

The current income tax stands at 32 percent.

Meanwhile, Cebu Rep. Rodrigo Abellanosa also filed another bill, which also seeks to lower the rate to 15 percent.