Malacañang is not yet ready to commit support for a pending proposal to lower income-tax rates—listed among the highest in the region—but would consider the long pending tax-reform measure once Congress approves it.
Deputy Spokesman Abigail Valte indicated over the weekend the Palace was not closing the door on downward adjustments of personal income-tax rates being pushed by Sen. Juan Edgardo Angara and other House leaders.
Valte made the clarification when asked if President Aquino would heed Congress leaders appeal to lower income-tax rates as the “best gift” Mr. Aquino give to private and government workers before bowing out of office on June 30, 2016.
“That bill, I think, is still being deliberated in Congress,” Valte said, “but we will certainly discuss it once it reaches the President.”
Earlier, Angara pleaded for Palace endorsement of the tax-reform bill to fast-track passage of the measure as Congress reconvenes regular sessions.
In the House, Rep. Magtanggol Gunigundo of Valenzuela, deputy majority leader, filed a counterpart bill to lower individual income tax from 32 percent to 15 percent and corporate income-tax rates from 30 percent to 15 percent.