Philippine President Ferdinand Marcos Jr., on Tuesday, February 7, urged millions of taxpayers to pay their dues on time.
“I encourage the public to pay the correct amount of taxes on time to support the country’s economic recovery and expansion so critical at this time,” Marcos said during the tax campaign launch held at the Philippine International Convention Center yesterday.
Citing concerns for economic recovery given the high inflation rate in the country, Marcos added that it is vital for taxpayers to not delay on paying their taxes.
“As we move forward to the future, the importance of utilizing modern and updated technology to ensure a more tax efficient collection becomes absolutely imperative. It is my hope that the bureau will continue its commitment to pursuing and upgrading its digitalization programs,” Marcos said.
Marcos also noted the effort of the Bureau of Internal Revenue (BIR) as he stressed the role it plays in making sure that the government’s programs and projects are well funded and implemented.
“Rest assured that this government will remain committed to managing and utilizing these contributions for the benefit of the country and for every Filipino. And also, we will ensure that every peso of taxes paid will become an investment in uplifting the quality of lives of every Juan and Juana,” he said.
Marcos also cited support for House Bill 6993, which was designed to impose higher taxes on luxury goods.
Marcos said the taxes imposed on luxury goods only covers specific items whose demand remains the same despite the economic situation.
“For the rest of us who are not necessarily consumers of luxury goods, we feel the slowdown in the economy. If we look at the luxury items, the luxury cars, designer apparel and bags, the prices do not change because the rich people buy them,” he said.
“I think it’s reasonable that we will tax the consumption side of those who are consuming luxury items,” he added.
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