The government will use the P10 billion tax collection from the rice importation to strengthen the production of local farmers in the Philippines.
Department of Finance (DOF) Secretary Tony Lambino has pointed out that the annual tax collection is allotted for the Rice Competitiveness Enhancement Fund as stated in the Rice Tariffication Law.
Under the said law, the collected tax worth more than P10 billion will be allotted to assistance needed by the farmers. This will be divided for the purchase of equipment or machines, seeds, loan, and training. -PTV News
