{"id":144766,"date":"2018-01-09T00:30:52","date_gmt":"2018-01-09T05:30:52","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=144766"},"modified":"2018-01-09T00:30:52","modified_gmt":"2018-01-09T05:30:52","slug":"govt-targets-p26-b-revenues-from-planned-tax-amnesty-program","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/01\/09\/govt-targets-p26-b-revenues-from-planned-tax-amnesty-program\/","title":{"rendered":"Gov’t targets P26-B revenues from planned tax amnesty program"},"content":{"rendered":"
\"The<\/a>
The Palace fa\u00e7ade featured on the briefing room signage (Photo By Office of the Executive Secretary – http:\/\/www.malacanang.gov.ph\/, Public Domain)<\/a><\/figcaption><\/figure>\n

MANILA\u2014 The government targets PHP26-billion in revenue collections from the planned tax amnesty program.<\/p>\n

Finance Undersecretary Karl Chua, in a briefing at Malacanang Monday, said they have no idea how many erring taxpayers will avail of the tax amnesty, although he remains hopeful about the benefit to state revenues.<\/p>\n

He explained that their estimates were based on the tax amnesty in 2008.<\/p>\n

That year the government collected PHP13 billion, or about 0.07 percent of gross domestic product (GDP).<\/p>\n

\u201cSo we used the same estimate and double that is around PHP26 billion.\u00a0 Double because our GDP has practically doubled,\u201d he said.<\/p>\n

The Finance department official said that gains from the targeted amnesty program \u201cpractically depends on who will avail.\u201d<\/p>\n

The tax amnesty program is being eyed as the government aims for higher revenues to finance its infrastructure and social protection programs.<\/p>\n

The Duterte administration has set an infrastructure program amounting to at least PHP8 trillion until 2022.<\/p>\n

It eyes to increase infrastructure spending to about seven percent of GDP from the current five percent in a bid to ensure that necessary infrastructure are constructed.<\/p>\n

Economic officials said this will assure a more sustainable and long-term growth for the domestic economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014 The government targets PHP26-billion in revenue collections from the planned tax amnesty program. Finance Undersecretary Karl Chua, in a …<\/p>\n","protected":false},"author":33,"featured_media":111200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[42407,42408],"class_list":["post-144766","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-govt-targets-p26-b-revenues-from-planned-tax-amnesty-program","tag-php26-billion-in-revenue-collections","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/144766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=144766"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/144766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/111200"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=144766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=144766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=144766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}