The government must implement a progressive tax law, spend more on its coronavirus disease 2019 (Covid-19) pandemic response and improve the health sector to ensure the recovery of the Philippine economy, according to current and former government officials. During the SharePHIL online summit series on Wednesday, Senate President Pro Tempore Ralph Recto emphasized the importance of his proposed version of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. “A good Create must create confidence and consistency in rules at the time when the pandemic is creating confusion. It also seeks to rationalize incentives currently being enjoyed by select firms, especially those in economic zones. “As a percentage of GDP (gross domestic product) and per-capita spending, we are at the bottom of Asean.

Source: Manila Times October 21, 2020 16:26 UTC