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OIL TAX CUTS TO RETURN MONEY TO PUBLIC — ISKO

Aksyon Demokratiko presidential bet Manila Mayor Francisco “Isko Moreno” Domagoso said he is willing to temporarily reduce government revenues through oil tax cuts to provide immediate relief for the public.

In an interview with Karen Davila on Tuesday, Domagoso said the response of the Department of Finance (DOF) to his proposal to cut excise taxes on oil by 50 percent just proved his point.

“Di ba marapat lamang sa panahon ng pandemya gobyerno naman ang magparaya? Can you imagine if I have 130 billion na mababalik sa tao dahil sa yung ginawa natin na nagparaya ang gobyerno?”

“Actually, it’s not massive. It’s just a fraction. If we have a five trillion pesos budget, eight hundred billion more or less is for debt servicing o pambayad sa utang. So, we still have about 4.2 trillion. At 200 billion, kung mababawasan, if i’m not mistaken, the numbers made by the DOF is we’re going to lose 130 billion with that approach,” he said.

“Ang sa’kin naman, lalong tumibay pananaw ko na gawin nga yun kung saka-sakali, may awa ang Diyos. Di ba marapat lamang sa panahon ng pandemya gobyerno naman ang magparaya? Can you imagine if I have 130 billion na mababalik sa tao dahil sa yung ginawa natin na nagparaya ang gobyerno?” he added.

Citing Manila’s successful tax amnesty program, the 46-year-old mayor said his proposed tax cuts will allow business owners and workers to save more money, prevent the closure of businesses, and enable people to spend more by increasing their purchasing power.

“I do believe it’s doable gobyerno babawasan. Imbes na lagi hinihingian ang tao ng buwis, tayo naman ang magparaya ngayon nang maramdaman ng tao, ‘May gobyernong lumilingon sa’ken,’” he said.

Domagoso said he will work closely with Congress in legislating tax cuts on oil and electricity.

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