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PHILIPPINES: Tax Cuts for Low Earners Set to be Funded by Wider VAT Imposition

Tax cuts for the lowest earners are to be introduced in a staged programme between 2017 and 2019.[1] This proposed tax change was submitted to the Congress for discussion on 26 September. In a bid to make up any shortfall in tax revenue as a result of this change, VAT will be extended across a number of new categories, leaving only basic foods, education and health-related items exempt. Taxes on petrol and certain classes of automobiles are also likely to rise.


[1] Philippines Department of Finance official website

 

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