By Bianca Cuaresma
The umbrella organization Tax Management Association of the Philippines (TMAP) vowed on Thursday to capitalize on its influence and try to push, yet again, for more tax reforms, particularly in its bid for a scaled-down income tax.
In a news briefing, TMAP President Benedict Tugonon said the group will continue to push for adjustments in income-tax rates despite the legislative failure to enact income-tax rate cuts in 2015.
“This time, TMAP is envisioning this as an election issue,” Tugongon said, adding the group is working with agencies such as the Commission on Elections (Comelec) to include tax reform as one of the issues that presidential candidates should carry in their campaign to capture elective positions.
Total revenues for the period January to November 2015 reached P1.95 trillion, reflecting a 12 percent growth year-on-year.
“We are pushing this for the past two years, and last year we thought we almost have it. We really thought we were so near because we already have the support of both Houses of Congress,” Tugonon said.
“…Congress already adjourned and we may not have sessions left. We will have to wait for the reopening of congress this coming July and by that time there already (should be a) new administration, new president. So where are we going to elevate our advocacy?” he added.
The TMAP is pushing for adjustments in income-tax rate brackets that have remained in place practically unchanged since 1997. The umbrella group favors changes taking into account inflation and the changing dynamics of the economy for some two decades already.
The influential group further said the Bureau of Internal Revenue (BIR) should streamline and simplify the filing process to encourage more Filipinos to pay the proper tax to the government.
Tugonon further said the Philippine economy would be better off were the tax processes streamlined and improved the past many years.
“We think while the Philippine economy is one of the fastest-growing economies in the world, it could have done better were the tax reforms stable, easy to understand, convenient to comply with, growth oriented, developmental and service-written,” he said.