MANILA, Philippines — Duterte has vetoed a provision of the Tax Amnesty Bill which grants a general amnesty program for taxpayers with unsettled obligations, the Department of Finance (DOF) said over the weekend. In a text message to reporters, Finance Secretary Carlos Dominguez said Duterte has line – vetoed the general tax amnesty provisions under the Tax Amnesty Act of 2019 due to Congress’ rejection of measures to relax the Bank Secrecy Law and improve processes in the exchange of information. With the removal of general amnesty, Dominguez said only the estate tax amnesty program and the amnesty on delinquency taxed remain to be implemented. Duterte also vetoed the provision on the presumption of correctness of estate tax amnesty returns. The finance chief also encouraged Congress to pass another general tax amnesty bill that contains the necessary provisions on bank secrecy and the automatic exchange of information.

Source: Philippine Star February 17, 2019 21:03 UTC