Connect with us

Hi, what are you looking for?


PCCI presses new gov’t to pass remaining tax reform packages

THE Philippine Chamber of Commerce and Industry (PCCI) said the incoming Marcos administration must focus on passing key legislation like the remaining components of the tax reform program, which the current government was not able to shepherd through Congress.

In a statement on Monday, the PCCI said its legislative committee’s list of priority laws was headlined by the remaining elements of the Comprehensive Tax Reform Program like Property Valuation and Assessment reform and a Capital Income and Financial Taxes bill.

Other measures declared priorities are a Capital Markets Development Act; an Open Access in Data Transmission Act; a Better Internet Act; and amendments to the Philippine Qualifications Framework Act and the Dual Training System Act.

The list was compiled in consultation with partners like the Philippine Exporters Confederation, Inc. and Employers Confederation of the Philippines.

The remaining items on the PCCI’s wish list are a Successful Farmers Development Act to amend the Comprehensive Agrarian Reform Law; amendments to the Magna Carta for micro, small, and medium enterprises Act; amendments to the Philippine Warehouse Receipts Act; the amendment or repeal of the Act for Salt Iodization Nationwide; a National Quality Infrastructure Act; and a International Maritime Trade Act.

“The remaining packages in the tax reform program will help the administration to strengthen government’s fiscal position and meet urgent calls on public funds,” PCCI Director for Legislative and Taxation Benedicta Du-Baladad said.

Ferdinand A. Ferrer, PCCI Innovation and Science and Technology committee head, said that measures related to internet connectivity will attract more market entrants to build out the national digital infrastructure, especially in the countryside.

“Internet connectivity has been made more urgent as the digitalization process started at the height of the coronavirus disease 2019 (COVID-19) lockdowns,” Mr. Ferrer said.

President-elect Ferdinand R. Marcos, Jr. is set to take his oath as the 17thPresident of the Philippines on June 30, succeeding President Rodrigo R. Duterte. The 19th Congress will open on July 25. — Revin Mikhael D. Ochave

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...


Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...


Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...


REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...


Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.