The Philippine DOF plans to raise capital gains, donor, and estate taxes from 6% to 10% under the Growth Bill, aiming to generate ₱300 billion. Rep. Salceda warns the move may trigger capital flight and hurt the middle class.
Weigh in on what is the better policy for foreign crypto exchanges; ban them or tax them instead?
The Filipino crypto community opposes taxing foreign and unlicensed exchanges, questioning the rationale behind taxation without regulatory support.
Filipino representative wants the government to look at taxing overseas crypto exchanges.
Salceda cited that the accumulation of debts like this is dangerous for the country’s economy and for consumers.
Rep. Joey Salceda has called on BPI to compensate its users affected by glitch and noted that the BSP investigation should not slow it down.
Salcedo gave a possible economic solution which can be a mix of policy and program intervention. He suggested that the government needs to encourage the “Big 4” in service Dollar earners.
The economist-legislator also noted that the goods and services sold digitally “should not need any further legislation to be covered.”
He added that there are about a million virtual employees in the country.
What is included in the new House Bill No. 7425 that seeks to tax the online services Filipinos use?
