INQUIRER.net: Now, Recto wants to cut income taxes

INQUIRER.net Philippine News for Filipinos

Now, Recto wants to cut income taxes Apr 3rd 2013, 22:57 MANILA, Philippines—With the Philippines getting an investment grade status for the first time in its history, "Mister e-VAT" thinks that the Aquino administration can now afford to reduce the taxes paid by fixed wage earners as a reward for their contribution to improving the government's fiscal picture.   Sen. Ralph Recto, the main proponent of the Expanded Value Added Tax Law in 2005, said taxpayers had contributed between P1 trillion and P1.5 trillion in additional taxes such as the e-VAT, rationalization of automobile taxes and increase in sin taxes, over the last eight years which allowed the government to pare down its budget deficit.   The lower ... Keep on reading: Now, Recto wants to cut income taxes Media files: ralph-recto.jpg (image/jpeg)

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