Phillipines: Separate income tax cutfrom diesel tax, House urged

• Feb 03, 2017

MANILA, Philippines – Marikina Rep. Romero Quimbo urged the House of Representatives Ways and Means Committee yesterday to separate the proposed reduction in income tax from the administration proposal to impose a P6 tax on diesel and other oil products.

Quimbo, who headed the committee in the previous Congress, reminded current chairman Dakila Cua that President Duterte promised during the election campaign to reduce income tax and not to burden people with new taxes.

Cua has filed Bill 4774, which contains both proposals – cutting income tax and taxing diesel, cooking gas, kerosene, and bunker oil for electricity, among other new and higher levies.

The bill is based largely on the Duterte administration’s so-called tax reform package drawn up by the Department of Finance (DOF).

Quimbo and his Senate counterpart Juan Edgardo Angara were the principal proponents in cutting individual and corporate income tax in the previous Congress.

Quimbo lamented that their proposal has been “sidetracked and waylaid” by Cua and the DOF’s “push for the imposition of massive and substantial new taxes solely for the purpose of raising more revenue.”

Source: http://www.philstar.com/business/2017/02/03/1668404/separate-income-tax-cutfrom-diesel-tax-house-urged