On June 1, 2016, Atty. Euney Marie Mata-Perez was interviewed in MORNINGS@ANC on the Department of Finance (DOF)’s latest tax reform proposals.

The DOF has proposed to reduce the corporate and individual income tax rates and to exempt wage earnings below Php 1 million from income tax.  However, the proposal also includes the increase of the value-added tax (VAT) rate to 14%  and the removal of certain VAT exemptions.

Atty. Mata-Perez believes that it is high time to reduce income tax rates. However, she cautions that the proposed VAT increase should be reviewed and studied carefully.  She strongly recommends the improvement of the VAT collection system.

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