No new taxes for Philippines, just better collection: Finance Secreatary Recto

MANILA: The Marcos administration would not impose new taxes as part of efforts to repair the economy after the pandemic, Finance Secretary Ralph Recto (pic) said on Wednesday (Jan 24), adding the government would rather improve collection efficiency than create new imposts that might stoke inflation.

Recto, who took the finance portfolio on Jan. 15, said the plan was to “collect what’s on the table” and not burden Filipinos reeling from high prices with new consumption taxes.