To help lower the price of goods and services, President Ferdinand R. Marcos Jr. has prohibited local government units (LGU) from collecting pass-through fees for delivery vehicles on national roads, and those unfunded by Republic Act (RA) No. 7160 or the Local Government Code (LGC).
The government extended incentives to 25 various projects nationwide with total investments of P287.947 billion during the first year of the Marcos Jr. administration.
The Department of Finance (DOF) and the Department of Trade and Industry (DTI) are headed for another policy face-off, after Finance Secretary Carlos G. Dominguez III said he is standing by his proposal to hike excise taxes on automobiles as a way to ease traffic congestion and raise revenue collection.
A leader of the House of Representatives on Thursday said forcing the “radical” overhaul on the country’s tax system may not only prove to be imprudent, time-wasting and fiscally unhealthy, but will also bring about more harm than good in the long run.
THE Department of Finance (DOF) said its comprehensive tax-reform package is still on track with the government’s target of being able to implement package one by the third quarter of 2017, following President Duterte’s pronouncement of lowering tax rates.