MANILA - The Department of Finance welcomed the inclusion of its endorsed bills under the common legislative agenda for the 19th Congress, announced during the Legislative-Executive Development Advisory Council meeting last Sept. 20, Secretary Benjamin Diokno said.

In a briefing with the media, Diokno said the DOF backs the Public-Private Partnership Act, Package 3 on Real Property Valuation and Assessment Bill, Ease of Paying Taxes Bill, Automatic Income Classification of Local Government Units BIll, Excise Tax on Single-Use Plastic Bill and the Rationalization of the Mining Fiscal Regime.

"The Department of Finance welcomes the inclusion of the Excise Tax on Single-Use Plastics and the Rationalization of the Mining Fiscal Regime," Diokno said.

The Senate has approved on second reading of the PPP Act, while its counterpart in the House of Representatives was approved in December. It aims to enhance the Build-Operate-Transfer Law and its IRR, Diokno said.

"With the thrust of this administration to harness private capital in financing infrastructure development, this law ensures fair and equitable opportunities for the private sector," he said.

Diokno said they're hoping the Senate would approve the measure by Sept. 25.

Meanwhile, in an analysis of the national budget, the Congressional Policy and Budget Research Department (CPBRD) estimated that the excise tax on single-use plastic could generate some P6.5 billion in 2024.

• P120.5-billion revenue seen from new tax measures
• Congress 'on track' to pass 20 priority bills before end of 2023: Palace

RELATED VIDEO

Watch more News on iWantTFC