BAGUIO CITY, Feb. 2 (PIA) -- The new tax reform law will have minimal effect on agricultural products, a Palace official said.
Presidential Spokesman Harry Roque, in a press briefing at the Baguio City Multipurpose Hall, said the effect is minimal because there is no ad valorem on vegetables.
‘Perhaps, it affects some inputs but it would be minimal, ”Roque said adding that in terms of inflation, the Department of Finance estimates it at only about 0.7 percent effect.
The Cordilleras particularly the province of Benguet is the main supplier of highland vegetables in the country.
The Tax Reform for Acceleration and Inclusion (TRAIN) which took effect last January 1, aims to make tax system fairer and simpler with lower personal income tax thus increase in take home money and bonuses. But it imposes higher excise levies on petroleum, tobacco, sweetened beverages, coal and automobiles, among others.
Meanwhile, Roque said President Duterte’s campaign against drugs is an effective way of addressing the problem on children in conflict with the law.
“As we jail drug traders who use children, we are promoting the welfare of children,” Roque said.
He reiterated that the President wants the “Pangilinan law” repelled. This is the Juvenile Justice Welfare Act authored by Senator Francis “Kiko” Pangilinan which raised the age of criminal liability to 15. (PIA CAR)