House Committee on Ways and Means Chairman and Albay Rep. Joey Sarte Salceda said presumptive President-elect Ferdinand “Bongbong” Marcos Jr. can use his “supermajority in both mandate and Congressional alliances to enact smart, efficient tax and economic policies to address this debt overhang.”
Expanding the country’s fiscal space and tax-policy reform, he added, are best options for the next administration. Meanwhile, Salceda said the next administration should implement “quick and effective” fiscal measures in the first hundred days. Salceda suggested to look into the proposed digital economy taxation to grow tax revenues from digital transactions.
“I would particularly want to see VAT refund processes shortened, TIN registration fully digitalized, and the electronic invoicing mandate under the TRAIN law fully implemented,” Salceda suggested.
Source: Loan Digest (loandigest.net)
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