SEN JV: WE MAY NOT NEED TRAIN WITH IMPROVED BOC COLLECTION

WE may not need, after all, the proposed TRAIN (Tax Reform for Acceleration and Inclusion), which seeks to increase taxes on certain strategic items like petroleum products and impose new ones like the levy on sugar-sweetened beverages, which are basic consumer commodities,

I consider it as a strong argument against the TRAIN the recent developments where the BOC (Bureau of Customs) collected P42-billion worth of import duties and taxes last October, which is the highest take in a month in the bureau's history, and the BIR (Bureau of Internal Revenue) netted over P138 billion in September, which was higher than its P130.12 billion goal for the month.

This means we can raise revenues even without increasing the taxes or imposing new ones.

I also commend the BOC for successfully confiscating undervalued luxury cars at the MICP (Manila International Container Port) worth P107 million.

If we will only improve our tax and duties collections and also tighten the noose on smugglers through a serious and sustained anti-smuggling campaign, which we definitely can, we will be able to generate the revenues that we need. So, hindi na natin kailangan pa ang TRAIN.

I have been calling the government's economic managers to rethink and review their position on the TRAIN because, as I have said, it's inflationary and will severely impact on the poor. I am especially worried on food inflation. With the BIR and the BOC coming up with impressive numbers, I hope they will listen to this proposal now.