MANILA, Philippines – Malacanang called on all working personnel and professional organizations to join efforts in improving the overall economic development of the country by paying the correct taxes.
In a press briefing in Malacanang on Tuesday, Communications Secretary Herminio “Sonny” Coloma, Jr. said, “We call on all professional organizations to urge their members to pay the right taxes and help in the country’s overall economic development efforts.”
He said the Bureau of Internal Revenue is stepping up efforts to improve the country’s tax-to-GDP ratio to 16 to 18 percent by 2016.
“Taxes are the lifeblood of the economy. In accordance with the Philippine Development Plan goals, the BIR’s campaign is intensifying efforts to increase the country’s tax-to-GDP ratio to 16 to 18 percent by 2016. As of 2013, the country’s tax-to-GDP reached 13.6 percent, but still below the 17 percent recorded prior to the Asian financial crisis,” Coloma said.
He added that by working to achieve this target, the government is committed to strengthening its tax collection efforts to be at par with its ASEAN counterparts.
According to a World Bank report, the tax effort of Thailand, Malaysia and Singapore stands at 17.6 percent,16.1 percent and 13.8 percent respectively.
