MANILA : Philippine central bank governor Benjamin Diokno, who takes on a new role as finance secretary next month, said on Friday he does not favour raising taxes even as the incoming government is set to inherit a huge pile of debt..
"To me, grow the economy, focus on tax administration first, improve the collection," Diokno told ANC news channel. Marcos on Thursday said he preferred to reduce the tax burden for those suffering from the economic impact of the pandemic. The tax system has already undergone reform in the past six years after incumbent President Rodrigo Duterte's government lowered corporate and personal income taxes while raising levies on tobacco and alcohol products.
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