President Ferdinand Marcos Jr. called on Filipinos to pay the right taxes and pay them on time, as he joined the Bureau of Internal Revenue in launching the agency’s National Tax Campaign. | NCorralesINQ /PDI
Marcos called on the public to cooperate with government efforts to improve the tax collection system, assuring them of the proper utilization of public funds and that “every peso of taxes paid will become an investment in uplifting the quality of lives of every Juan and Juana.”
Salceda’s bill projects that raising the taxes on luxury items from 20 percent to 25 percent will result in about P15 billion in additional government revenues.The proposal wants the higher tax rate applied to wristwatches, bags, wallets, and belts valued at more than P50,000; beverages worth more than P20,000 a liter; antiques valued at P100,000; and paintings valued at more than P1 million.
According to the Presidential Commission on Good Government, the BIR had “already executed its final assessment” on the Marcos properties involved as early as 1993, and that “as early as 1997, the judgment on the tax case had become final and executory.”
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