The Department of Finance (DOF) bucked the proposal seeking to impose a “super-rich” tax on Filipino billionaires as its negative impacts outweigh any potential revenue gains for the government. In a letter to House Speaker Lord Allan Jay Velasco, Finance Secretary Carlos G. Dominguez III said a wealth tax, once ...

Source: Manila Bulletin (https://mb.com.ph/2021/11/21/dof-bucks-super-rich-tax-proposal/?utm_source=rss&utm_medium=rss&utm_campaign=dof-bucks-super-rich-tax-proposal)