By Darryl John Esguerra | Philippine News Agency
The government will carefully study a proposal of Sen. Erwin Tulfo to grant a one-month tax holiday to help boost public confidence and ease the burden on Filipinos amid corruption investigations.
In a press briefing Thursday, Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Frederick Go said the measure must undergo a thorough review by the Department of Finance (DOF) and the Department of Budget and Management (DBM) before any decision is made.
“Bagong-bago po ito. Kailangang pag-aralan ito nang mabuti ng Department of Finance at ng DBM po. This is quite a big matter, and I think it’s best to give the DOF and the DBM time to carefully study this proposal,” Go said.
Tulfo earlier floated the idea of suspending tax collections for a month, saying it could help lift public morale and stimulate spending amid concerns over alleged corruption in flood control projects.
When asked if he agreed with the senator’s logic, Go said it would be premature to take a position without full analysis.
“I’d like to defer this matter to the Department of Finance and the DBM because this really has to be studied carefully. I would hesitate to make a response that’s probably not very well thought about,” he said.
Go, who heads the government’s investment promotion efforts, stressed that the Marcos Jr. administration remains focused on maintaining fiscal discipline while implementing reforms to make the business environment more competitive.
The Palace official noted that the government is pursuing programs like the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, the Public-Private Partnership (PPP) Code, and Green Lanes for Strategic Investments to attract investors and sustain growth.
“These programs are meant to ensure that reforms remain sound, sustainable, and credible to both local and foreign investors,” Go said.
