President partially vetoes tax amnesty bill
Credit to Author: ggaviola| Date: Fri, 15 Feb 2019 15:46:35 +0000
MANILA, Philippines – President Rodrigo Duterte has issued a partial veto on the Tax Amnesty Act, a measure which seeks to provide amnesty for delinquent taxpayers.
Executive Secretary Salvador Medialdea confirmed the development on Friday.
Malacañang, however, is yet to explain which provisions of the bill were vetoed by Duterte.
The President has a line-item veto power for any budget, tax and tariff bill passed by Congress.
The tax amnesty bill would provide for a one-time opportunity to settle tax obligations, including estate taxes, general taxes and delinquent accounts, for those who failed to pay these for the year 2017 and earlier.
Those who avail themselves of the amnesty program would be immune from the payment of all taxes and the filing of civil, criminal and administrative cases and penalties.
Sen. Sonny Angara, the measure’s main sponsor in the Senate, described it as a “win-win” for both the taxpayers and the administration.
The government is expected to generate some P41 billion from the program, with the amount going to infrastructure projects and to the augmentation of appropriations to help those affected by the Tax Reform for Acceleration and Inclusion (Train) law, said Angara. / gsg