By Justine Irish D. Tabile, Senior Reporter
THE Department of Finance (DoF) is open to proposals to reduce or repeal some taxes, including the value-added tax (VAT), provided the resulting revenue losses are offset by alternative sources, Finance Secretary Frederick D. Go said.
“My categorical position on any tax removal is: I am not opposed to any tax removal for as long as a replacement revenue source is identified,” he said at a budget hearing on Monday.
“I am neutral to all the taxes, but we do have a national expenditure budget of P7.2 trillion, which we have to fund. So, if we remove any tax measure, the request is that your honor identify another tax source,” he added.
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