[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”]
[av_heading heading=’Treñas rates Duterte 8.5′ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]
BY RESEL JOY TIANERO
[/av_heading]
[av_textblock size=” font_color=” color=”]
Sunday, July 2, 2017
[/av_textblock]
[av_textblock size=” font_color=” color=”]
ILOILO City – From 1 to 10, with 10 as the highest rating, Rep. Jerry Treñas gave the Duterte administration 8.5 for its first year.
Treñas specifically cited President Rodrigo Duterte’s efforts on the antidrug campaign, tax reform and infrastructure.
“The President has done very well in addressing the drug problem,” the congressman said, adding that Duterte made “great advances” in the peace process.
While he noted the passage of the Comprehensive Tax Reform Program at the House of Representatives as one of the Duterte administration’s feats, Treñas admitted there are “still issues that must be resolved in some contentious provisions.”
The program, proposed by the Department of Finance, lowers personal income tax and reduces value-added tax (VAT) exemptions to cut revenue loss.
Under the program, the maximum rate of personal income tax will be reduced starting Jan. 1, 2018 to 25 percent from the current 32 percent, except for high income earners.
Those earning P250,000 and below annually will be exempted from paying income taxes.
The 13th month pay up to P82,000 and other bonuses will remain tax-free, while the “ultra-rich,” who comprise 0.1 percent of taxpayers, will be levied a higher rate of 35 percent from the current 32 percent.
The measure also proposed higher excise taxes on refined petroleum and automobiles, excluding buses, trucks, cargo vans, jeeps, jeepney substitutes, and special purpose vehicles.
Moreover, Treñas said the infrastructure program is “on track” should be “enhanced and sustained” with “continued and united support from all sectors.”
The congressman believes the Duterte administration’s infrastructure and tax reform programs will improve the economy./PN
[/av_textblock]
[/av_one_full]
