STORY OF THE DAY


SEN. GORDON: TRAIN LAW NOT NEEDED WITH PROPER, TIMELY COLLECTION OF TAXES



Amid calls of some legislators to suspend the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the Duterte government doesn't seem to have any plan to consider it.

The government has repeatedly defended that TRAIN law is the best way to fund the its flagship infrastructure program “Build, Build, Build.”

This, once materialized, is said to bring long-term solution to the country's perennial problems.

Meantime, Senator Richard Gordon seem to have another take on the implementation of TRAIN law.

According to him, there will be no need for TRAIN if only there will be proper and timely collection of duties and taxes.

With this, the Blue Ribbon Committee Chairman has called on the concerned government agencies – particularly the Bureaus of Customs and Internal Revenue to ensure timely and proper collection of duties and taxes to bolster tax collection.

Gordon bared that in the period of 2012 to 2016, the government lost potential collections amounting to P423,246 billion in taxes and value added tax due to smuggling from China alone.

This he said this can supposedly wipe out the classroom shortage in the Philippines, strengthen the country's defense capabilities, and can contribute to the fund being generated for Build, Build, Build.