PCCI presses new gov’t to pass remaining tax reform packages
THE Philippine Chamber of Commerce and Industry (PCCI) said the incoming Marcos administration must focus on passing key legislation like the remaining components of the tax reform program, which the current government was not able to shepherd through Congress.
In a statement on Monday, the PCCI said its legislative committee’s list of priority laws was headlined by the remaining elements of the Comprehensive Tax Reform Program like Property Valuation and Assessment reform and a Capital Income and Financial Taxes bill.
Other measures declared priorities are a Capital Markets Development Act; an Open Access in Data Transmission Act; a Better Internet Act; and amendments to the Philippine Qualifications Framework Act and the Dual Training System Act.
The list was compiled in consultation with partners like the Philippine Exporters Confederation, Inc. and Employers Confederation of the Philippines.
The remaining items on the PCCI’s wish list are a Successful Farmers Development Act to amend the Comprehensive Agrarian Reform Law; amendments to the Magna Carta for micro, small, and medium enterprises Act; amendments to the Philippine Warehouse Receipts Act; the amendment or repeal of the Act for Salt Iodization Nationwide; a National Quality Infrastructure Act; and a International Maritime Trade Act.
“The remaining packages in the tax reform program will help the administration to strengthen government’s fiscal position and meet urgent calls on public funds,” PCCI Director for Legislative and Taxation Benedicta Du-Baladad said.
Ferdinand A. Ferrer, PCCI Innovation and Science and Technology committee head, said that measures related to internet connectivity will attract more market entrants to build out the national digital infrastructure, especially in the countryside.
“Internet connectivity has been made more urgent as the digitalization process started at the height of the coronavirus disease 2019 (COVID-19) lockdowns,” Mr. Ferrer said.
President-elect Ferdinand R. Marcos, Jr. is set to take his oath as the 17thPresident of the Philippines on June 30, succeeding President Rodrigo R. Duterte. The 19th Congress will open on July 25. — Revin Mikhael D. Ochave