In his first state of the nation address (SONA) in 2016, President Rodrigo Duterte promised to keep the current macroeconomic policies in place in order to maintain a healthy economy till the end of his term.
He also promised to implement tax reforms, including lowering personal and corporate income tax rates.
On maintaining current macroeconomic policies
|PROMISE: “On the macroeconomic management, my administration will continue and
maintain current macroeconomic policies, and even do better.”
“We will achieve this through prudent fiscal and monetary policies that
On monetary policy: Duterte
On inflation: Inflation
On unemployment and underemployment: Preliminary figures
On tax reform
|PROMISE: “On taxation, my administration
will pursue tax reforms towards a simpler and more equitable and more efficient
tax system that can foster investment and job creation. We will lower personal
and corporate income tax rates and relax the Bank Secrecy Law.”
Duterte has certified urgent his administration’s
proposed Tax Reform and Acceleration and Inclusion Act, which was
approved by the House of Representatives in June. The Senate is expected to
take up the measure when Congress reopens in July.
Find out how Duterte fared in other sectors here.