Philippine economy
Under TRAIN, the majority poor do not gain from income tax reforms (TRAIN Infographic #3)
September 11, 2017
The DOF’s estimates of personal income tax gains for the poorest Filipinos erroneously assumes that the poorest Filipinos currently pay income tax. This is untrue because the BIR’s records indicate only some 5.6 million taxpayers at present who are wholly from the highest income brackets. The poorest Filipinos do not pay income tax now so, contrary […]
Under TRAIN, the poor bear the greater burden (TRAIN Infographic #2)
September 7, 2017
Under the tax ‘reform’ package which is currently being deliberated by the Philippine Senate, the poorest 60 million Filipinos will pay Php47.0 billion in additional taxes next year which is 2.3% of their combined family income of some Php2.0 trillion. The highest income 40%, meanwhile, will pay Php47.6 billion which is only 0.8% of their total family […]
DOF insistence on anti-poor tax package for free educ hit
August 31, 2017
Research group IBON said that the Department of Finance (DOF) should not use free education as a pretext for the Philippine Senate to pass a full version of the administration’s anti-poor tax reform package. The group also said that the administration should instead decisively tax the country’s wealthiest for national development needs. Finance secretary Carlos […]
Under TRAIN, the poorest will have less and the richest will have more (TRAIN Infographic #1)
August 30, 2017
That the Duterte administration’s Tax Reform for Acceleration and Inclusion (TRAIN) is progressive and pro-poor is all hype. Under TRAIN the highest-earning 40% including the richest will have more money in their pockets every year, while the poorest 60% of Filipino households will have less money due to changes in personal income tax, VAT, oil excise […]
2nd quarter growth rates point to economic headwinds
August 22, 2017
Research group IBON said that the recently released 2017 second quarter national accounts underscore the serious headwinds facing the Philippine economy. The group said that the Duterte administration should focus on building sustainable domestic foundations of growth and development rather than depend on external factors such as remittances, cheap labor business process outsourcing (BPO), and […]
Budget cuts will worsen shelter problem–IBON
August 17, 2017
Research group IBON said that the decreased 2018 housing budget will worsen the housing problem in the country. Amid a persistent housing backlog and disproportionate and rapid growth of urban population, the Duterte administration’s proposed housing budget cuts could affect millions of Filipinos in need of homes. The group said that it is the government’s […]
Federalism Cha-cha weakens nationalist provisions–IBON
August 16, 2017
Research group IBON criticized the weakening of nationalist provisions of the 1987 Philippine Constitution in the proposed federalism charter of pro-administration solons. The group said that the insertion of the phrase “unless otherwise provided by law” in portions restricting foreign participation in essential sectors threatens prospects for the Philippine economy to develop independently. Introduced by […]
Duterte’s RCEP push at ASEAN, implications on PH economy & development (Part 2)
August 13, 2017
By Arnold Padilla Part 2 – The more far-reaching implication of the RCEP is on the country’s sovereignty in regulating foreign investments and in designing and implementing development plans that would serve the national interest and public welfare. FTAs like the RCEP want to further erode the mandate of governments and other state institutions. This is […]
Duterte’s RCEP push at ASEAN, implications on PH economy and development
August 10, 2017
By Arnold Padilla Part 1-At the 50th anniversary of the Association of Southeast Asian Nations (ASEAN), President Rodrigo Duterte endorsed the Regional Comprehensive Economic Partnership (RCEP) deal. RCEP is being negotiated by the 10 member states of the ASEAN plus six other countries that ASEAN has a free trade agreement (FTA) with or the so-called […]
