Finance Secretary Benjamin E. Diokno on Friday said he would rather improve tax administration to generate more revenues than impose luxury taxes.
PHILSTAR FILE PHOTOThe Finance chief on Friday said he would rather improve tax administration to generate more revenues than impose luxury taxes.
Albay Rep. Jose Ma. Clemente S. Salceda recently filed House Bill No. 6993, which proposes a 25% tax on luxury or non-essential goods. “Right now, we’re trying to find out the most favorable modality, or the global practice. I think it’s the third parties that usually take care of the refunds,” he said.
“There is demand for dollar and euro-denominated bonds. We will accelerate the process… [because] there is really strong interest,” he said, adding that another dollar-bond issuance may happen in the latter part of the first quarter or early second quarter.The Bureau of the Treasury is scheduled to offer peso-denominated fixed-rate retail treasury bonds on Tuesday. The bonds, which have a tenor of 5.5 years, aim to raise P30 billion.
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