MAASIN CITY, Southern Leyte, July 5 (PIA) - Revenues generated out of reforms in the country’s tax system would be used by the government to fund basic social and health services, among others.
This was emphasized by House Speaker Pantaleon Alvarez in an impromptu chat with local media at the provincial coliseum here Sunday.
Alvarez, who was in the city as the belated guest for the province’s 57th founding anniversary, said the tax reform measure was already passed at the House of Representatives and currently being deliberated at the Senate.
During his visit Alvarez also administered the oath to new members of the political party PDP-Laban. He was met at the Panan-awan airport by provincial leaders led by Cong. Roger Mercado and Gov. Damian Mercado.
In a related development, an economic expert allayed fears the new tax reform program would adversely affect low-income earners, saying that there are safety nets provided in the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN).
Former economic planning secretary Felipe Medalla said in a report that the safety nets included personal income tax exemptions for those earning P 250,000 and below, unconditional cash transfers, and subsidies for public utility jeepney operators and drivers. (ajc/mmp/PIA8-Southern Leyte)