Big companies, just like the mining trade, is not going to be spared from the federal government’s complete tax reform program (CTRP), Senate President Koko Pimentel on Monday said.
Pimentel was reacting to some proposals to impose higher tax on high-earning industries, like mining, as an alternative of placing further burden on low-income staff by way of the CTRP.
“Nasa plano ‘yan. Nasa package 1 pa lang tayo. Ang Duterte administration sa aking pagkakaintindi meron silang 5 packages. Andito pa lang tayo package No. 1,” Pimentel said.
“At darating po tayo dun sa corporate income tax. For example, mining, special law po ‘yan. Tututukan din po natin ‘yan,” he added.
The tax reform measure just lately handed by the House of Representatives (HoR) features a provision imposing a P10 excise tax on each liter of sugar-sweetened drinks containing domestically produced sugar, whereas others will be taxed P20 per liter.
The proposed measure to impose tax on sugar-sweetened drinks is supposed to discourage customers from shopping for “unhealthy” drinks.