MANILA, Philippines —
Upon his appointment in January, Recto already said that he is not inclined to impose additional taxes, especially consumption-based ones, so as not to add to Filipinos’ burden. As a legislator during the Arroyo administration, Recto had pushed for the Expanded Value-Added Tax Law, which raised the VAT to 12 percent from 10 percent and covered additional goods.
Further, Recto noted that current tax rates are already high, saying that he can no longer tax oil, power, vehicles and tobacco as doing so could just increase smuggling and illicit trade. Instead, Recto said the government should not give away more taxes and ensure that there is no erosion of the revenue base.
Source: News Formal (newsformal.com)
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