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NEDA’s Recto nixes tax on text

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By Joel Guinto
INQUIRER.net
First Posted 16:53:00 10/01/2008

MANILA, Philippines — Socioeconomic Planning Secretary Ralph Recto bucked proposals to tax short message service (SMS) or text messaging to boost revenues amid a global financial crisis.

Instead, Recto is pushing Congress to pass a bill rationalizing fiscal incentives and pass the budget on time so that government spending on infrastructure can prop up the economy.

Recto said telecommunication firms have been paying income taxes, and as their income increases, so do their tax payments.

“I’m not in favor of the tax on text, right now…The more income they [telecommunication firms] earn, the bigger the tax collection we get from them anyway,” Recto said in a phone interview with reporters in Malacañang.

“You want the tax policies of this country to be parallel to the growth of the economy, when the economy is growing you collect more, when the economy is not growing you collect less,” he added.

View article as posted on INQUIRER.net

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Written by joelguinto

WedUTC2008-10-01T11:06:35+00:00UTC10bUTCWed, 01 Oct 2008 11:06:35 +0000 22, 2006 at 12:45 am10

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