SEVERAL increases in wealth tax rates proposed by the Department of Finance (DOF) are seen to raise P300 billion in revenues over the next five years. Finance Secretary Ralph G.
SEVERAL increases in wealth tax rates proposed by the Department of Finance are seen to raise P300 billion in revenues over the next five years.
As such, the DOF has harmonized the current 6-percent tax rates for capital gains, donor’s and estate taxes to a unified 10 percent. “Why should I favor the dollar over the peso? Why should the dollar have lower interest rates than the peso? Let’s equalize it to 20 percent with no exemptions,” Recto said.
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