AKO BICOL initiates discussion with Department of Finance

AKO BICOL Representatives Rodel Batocabe and Christopher Co, initiated discussions between members of the Partylist Coalition Foundation, Inc. (PCFI) and Key Officials from the Department of Finance (DOF) last February 7, 2017 at the House of Representatives to discuss the Administration’s Tax Reform Package under House Bill 4774 also known as the Tax Reform for Acceleration and Inclusion, authored by Cong. Dax Cua.

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Challenging the escalation in taxes, Rep. Batocabe, highlighted that the DOF should give suggestions on how to improve tax collection. “Instead of proposing measures to simply collect more and more taxes, you should also propose how to plug the leakages in the industries and how to make our tax collection efficient,” he said.

Rep. Co then pointed out to the DOF that although the proposed tax reforms will lessen the burden of the poor and middle class in terms of the lowering of income tax, they will still be afflicted by the increase in oil excise. “We also have to take into consideration instances of profiteering, where big business will simply pass on the additional tax burden to the general low- income public.”

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