DOF Secretary Diokno says the creditable withholding tax on online sellers in the Philippines is about making the tax system ‘fair’.
According to BSP Gov. Medalla, Project CBDH aims to allow any Southeast Asian native in the country to make wholesale transactions.
DOF Chief Benjamin Diokno emphasized that the blockchain is undoubtedly superior technology.
Finance Secretary Diokno stressed the country should improve PESONet and InstaPay first before doing CBDCs.
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The former Bangko Sentral ng Pilipinas (BSP) Governor insisted that digital transactions should be taxed on the basis of fairness.
According to Diokno, his main focus as the head of DOF is to attain an A-level credit rating
Diokno says he’s confident Medalla will continue the game-changing reforms he enact under his leadership of the central bank.
The BSP wants to better track and monitor blockchain and crypto companies according to Asian Development Bank.
Diokno noted that the DOF must focus mainly on the government’s tax administration during the first year of President-elect Ferdinand R. Marcos Jr.