Ralph Recto questions timing of TRAIN 2
Senate President Pro Tempore Ralph Recto said the passage of TRAIN 2 is not timely.
The Batangas politiko said that TRAIN 2 will not help the economy at this time.
“I support the objectives of TRAIN 2 to lower income taxes by rationalizing incentives, although I question the timing,” Recto said.
“TRAIN 2 may be inflationary because it increases taxes on domestic industries such as housing, power, petroleum, among other things. It will also increase taxes and the cost of exporters and BPO, and therefore reduce incentives to invest in enterprises that earn foreign exchange, which our economy badly needs at this time,” he added.
Recto also urged the Duterte administration to consider global economic events before passing TRAIN 2.
“The reduction in corporate income taxes may not be enough to attract investment at this time considering the global economic events,” he said.
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