Palace mum on lowering income tax rates

Posted at 03/05/14 11:02 PM

MANILA -- Malacanang on Wednesday refused to comment on a proposal to lower the prevailing income tax rates from 32 percent to 25 percent.

Presidential spokesperson Edwin Lacierda said they are leaving the decision to the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR).

He said lowering income taxes will directly affect the country and it requires further consideration and study.

"Marami tayong social programs na ini-implement. Iyong mga ganoong impact, dapat pag-aralan. So I think sila, DOF would be in a better position to say if we do that, this is what will happen," Lacierda said.

He also reminded the public that there had been no tax increases under the current administration.

Sen. Juan Edgardo "Sonny" Angara, through his Senate Bill No. 2149, is pushing to lower the income tax rate in the country by 2017. -- report from RG Cruz, ABS-CBN News