MANILA – Corporate tax reforms should be studied more closely and government should focus more on bringing down commodity prices, a lawmaker said Wednesday.
"May mga gusto kami tanggalin. (There are some provisions we want to remove) like removing incentives on schools, telecommunication companies, electricity, water companies. That’s a bit ill advised. I think at some point you can reexamine their tax regimes pero sa ngayon, we should be concerned with getting prices down,” said reelectionist Senator Sonny Angara.
Angara was referring to the Tax Reform for Attracting Better and High-quality Opportunities or TRABAHO Bill.
"We should be concerned with getting prices down," said Angara who chairs the Senate Committee on Ways and Means.
The first round of tax reforms raised duties on fuel, cars and sugar-sweetened drinks from Jan. 1.