Duterte tax reform benefits outweigh price spikes: finance dept
MANILA – The Department of Finance on Tuesday defended President Rodrigo Duterte’s tax reform plan, saying critics should consider it in its entirety.
The long-term benefits from the reform package will outweigh potential spikes in consumer prices, undersecretary Karl Kendrick Chua said in an interview with ANC’s Headstart.
“We have to look at it as a package and what is the bigger impact on the economy. Of course, there are sectors that may be affected, people that may be affected, but in the end, all these sectors will benefit from better or higher growth that this tax reform can provide,” he said.
Duterte is seeking higher taxes on fuel and automobiles to offset a reduction in income taxes, which he promised during the campaign.
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