Official of Malacañang Palace Speaks of NEDA Secretary
PALACE – The Malacañang spoke on the suggestion to charge the super rich Filipinos with a wealth tax amid the Middle East crisis.
The war in the Middle East has yet to come to a ceasefire nor a peace. Iran even denied the claim of United States President Donald Trump that a “Peace Plan” is underway. The Iranian officials stressed that they are not looking into negotiations with the Americans.
Trump claimed that he attacked Iran to stop it from acquiring nuclear power and supposedly destroying the world. The American President believes that the war will be ended soon and the high costs of oil will be “short-term”.
Several other nations are affected by the high costs of oil. In the Philippines, the pump prices have changed thrice already following a series of oil price hikes. The increases have led the diesel to reach P140 per liter.
Countless Filipinos most especially the drivers of Public Utility Vehicles (PUVs) as well as the daily commuters are greatly affected by the huge oil costs in the Philippines now. Recently, Atty. Claire Castro of the Malacañang Palace spoke on the suggestion to tax the super rich Filipinos amid the situation.
Based on a post of News5, National Economic Development Authority Sec. Winnie Monsod proposed that the government should tax the wealthy individuals or the so-called “Wealth Tax”. The suggestion came amid the situation in PH brought by the high oil costs.
According to Palace press officer undersecretary Claire Castro, all the suggestions are being considered. He stressed the remarks of Pres. Bongbong Marcos that no remarks will be totally off.
“Sabi nga po ng Pangulo, nothing is off the table. Lahat po ng suhestiyon ay ikinokonsidera,” the Palace official said.
However, based on the post, Atty. Claire Castro also admitted that implementing a Wealth Tax on super rich Filipinos may not be done easily. The Palace official stressed the remarks of Department of Economy, Planning, and Development (DEPDev) Sec. Arsenio Balisacan saying that it will not be easy.
“Most countries that have tried it such as Germany, France, and Sweden abandoned it because of its administrative complexity and the low revenue it generated,” the Palace official added.
Amid the high oil costs in the Philippines now, Pres. Bongbong Marcos announced the successful drilling of Camago-3 well for gas supply.