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Home News Latest Stories Govt targets over P4T in revenues by 2022

Govt targets over P4T in revenues by 2022

 

THE government seeks to raise over P4 trillion in revenues by the end of the Duterte administration in 2022 as it accounted for the expected collections from the comprehensive tax reform packages.

A Development Budget Coordination Committee’s (DBCC) medium-term program obtained by reporters showed that the  inter-agency body expected the government’s total revenues to rise by 10.5 percent or P3.149 trillion this year.

Revenues in 2020 are seen to increase by 12.3 percent to P3.536 trillion, 11.8 percent to P3.953 trillion by 2021, and 11.7 percent to P4.416 trillion by 2022.


Revenues are seen to be sourced from Package 1A or the Tax Reform for Acceleration and Inclusion or Train Law, the fuel marking program, Package 1B, and Package 2 Plus. MAYVELIN U. CARABALLO 

 

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