by Xave Gregorio (Philstar.com), 10 Nov 2020
MANILA, Philippines — The House of Representatives will fast track measures lobbied for by the finance department aimed at reviving the economy badly hit by the coronavirus pandemic, including a proposal to impose a 12% tax on digital transactions.
House Majority Leader Martin Romualdez said Tuesday that he has been instructed by House Speaker Lord Allan Velasco to prioritize once the House session resumes next Monday 11 bills endorsed by Finance Secretary Carlos Dominguez.
“These legislative imperatives, according to Secretary Dominguez, are needed to help ensure that the economy recovers quickly from the corona-induced crisis in a strong, sustainable, and resilient manner,” Romualdez said in a statement.
Among these measures endorsed by Dominguez is the proposal to impose value added tax on digital transactions, including on-demand video streaming sites and other digital services.
Additional taxes tend to curb demand, which can negatively impact a consumption-driven economy like the Philippines.
But one of the proponents of the measure, Rep. Joey Salceda (Albay), has said that the government stands to gain as much as P29.1 billion in additional revenues, which can be used to help the country cope with the coronavirus crisis.
Another measure included which will be prioritized by the House is the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery bill, which aims to remove the pressure of bad debts on banks so that they can lend more to businesses.
Other priority measures which are being tackled in plenary now are the Bureau of Fire Protection Modernization Program and the Fiscal Mining Regime.
Meanwhile, other measures identified by the House leadership as priority legislation which are still in the committee level are the:
Military and Uniformed Personnel Services Separation, Retirement, and Pension bill
Armed Forces of the Philippines Modernization bill
Coconut Farmers Trust Fund bill
Department of Water Resources and Water Regulatory Commission bill
Warehouse Receipts bill
National Disease Prevention and Management Authority bill
National Land Use bill
Romualdez said he has “no doubt” that the House will be able to pass these measures before next year, when 2022 elections become the top of mind of politicians.
“We are committed in helping our economic managers set in place the bold reforms that the Duterte administration has started to keep the economy strong and resilient,” Romualdez said.
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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