Binay committed to lowering taxes

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United Nationalist Alliance standard-bearer Vice President Jejomar Binay on Wednesday slammed as anti-poor outright rejection of proposals to lower income tax rates by Bureau of Internal Revenue Commissioner Kim Henares.

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“As usual, this administration has once again shown that it prefers to punish the poor rather than uplift their lives. When I am President, there will be a tax cut within my first year in office,” Binay said.

“Kapag para sa ikagiginhawa ng mahihirap, ang laging sagot hindi pwede. Hindi makatarungan na pareho lang ang binabayarang buwis ng ordinaryong manggagawa at milyonaryo. Sa ilalim ng aking pamumuno, wawakasan natin ‘yan [If the issue involves a better life for the poor, the government always says no. It is not right that an ordinary worker and a millionaire are paying the same amount of taxes. My presidency will put an end to that],” the Vice President pointed out.

Once elected President, Binay said, he will scrap the income tax for workers earning P30,000 and below.

The measure is expected to benefit at least six million workers in the private and public sectors.

Soldiers, policemen, nurses, public school teachers and government clerks are just some of those who stand to gain from this plan.

“To Miss Henares, the solution is not more taxes. What the people need are tax relief, more jobs, more education, more healthcare, better government. There are 26 million poor Filipinos today. This administration has overseen an increase in poverty. Under a Binay presidency, that will end,” the Vice President said.

Binay reiterated that revenue losses from the tax cuts can be easily offset by going after smugglers.

The Aquino administration loses on a yearly basis P230 billion to the smuggling of agricultural products, P30 billion to oil products and P12 billion to tobacco.

Potential revenue losses can also be offset by the sale of government assets and the privatization of a number of government-owned and -controlled corporations or GOCCs and continued improvement in tax administration and collection efficiency.

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2 Comments

  1. Binay’s platform for good governance and giving Tax relief is the right thing to do and makes more sense to help the lowest income earners.
    The rich are getting richer and the poor are getting poorer in this country .
    A very good initiative. It’s the right thing to do !

  2. May Sariling Isip on

    Kung smuggling ang problema, bakit hindi mo sabihin Binay kung ano ang gagawin mo para labanan ang smuggling? Parang ganoon lang kadali magsabi na ‘offset by going after smugglers’ at bawi kaagad ang nawalang tax revenue.

    Ibebenta ang ari-arian ng gov’t? Baka malugi lang gobyerno kung may cut dito, may 13% diyan, etc.