Dominguez lauds veto on general tax amnesty 0 SHARES Share it! Share TweetBy Chino S. LeycoFinance Secretary Carlos G. Dominguez III supported President Rodrigo R. Duterte’s decision to veto the general tax amnesty provision without the corresponding easing of the country’s bank secrecy law and other measures against tax evaders. To make a general tax amnesty effective after its implementation, Dominguez said that Congress should authorize the Bureau of Internal Revenue (BIR) to look into bank accounts and exchange tax information with its foreign counterparts. Should the Congress-approved general tax amnesty is implemented, the DOF warned the government would lose P15 billion in additional revenues. The DOF was the one that proposed for a general tax amnesty with the corresponding lifting of the bank secrecy law and the exchange of information.

Source: Manila Bulletin February 17, 2019 14:05 UTC