Tax Reform has been one of the hot topics in this coming May 2016 elections. Prior to the start of campaign, Tax Reform advocates including this writer has been very active in pushing for the reform to be passed in congress and to later be sign by the President. But unfortunately, after so many discussions, the President shut the idea for now as he said it still needs more studying.
Most of the presidentiables have articulated their take on tax reform. Sen. Grace Poe, Vice President Binay were very vocal in lowering income tax which is very outdated and not responsive to inflation. While Liberal Party standard bearer Mar Roxas is also open to talks on lowering income tax and in overhauling our tax system, he’s also very vocal that it should be done after the election and not during the campaign period.
Mar has been in support of restructuring our old tax system but reiterated talks about this should not be under the heat of election campaign. Of all the candidates, Mar even said he’s the only one who has the track record in tax legislation.
Mar is one of the legislators who passed the the amendments to R.A 8424 which seeks to exempt minimum wage earners both private and private sectors from paying taxes. The bill was later became R.A. 9054 or the Minimum Wage Tax Exemption Law.
Apart from that, Roxas also passed the “Expanded Senior Citizens Act of 2010” which seeks to amend R.A 9257 which gives senior citizens exemption to the 12% VAT on sales of applicable goods and services. The bill was later became R.A 9994 which is currently enjoyed by millions of senior citizens in the country.
So no doubt Mar Roxas is for tax reform, it’s just a matter of timing on when it should be tackled and studied. I hope if he becomes President he will made it a priority in his 1st year in office.
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