Spain lauds support to PH, "Very encouraged by the 10-point socioeconomic agenda of President Duterte”


Department of Finance Secretary Carlos Dominguez III said in a meeting on Tuesday that the Spanish government fully supports the Duterte administration’s 10-point socioeconomic agenda, especially on the implementation of tax reforms and accelerating infrastructure.

According to Sec. Dominguez, Ambassador 
Castaño said that the Spain government is "very encouraged by the 10-point socioeconomic agenda of President Rodrigo Duterte.”

In a meeting with Finance Secretary Carlos Dominguez III, Spanish Ambassador to Manila Luis Antonio Calvo Castaño additionally congratulated the Philippine government for its "dynamic" and "on-point" tax reform program that means to decrease individual and corporate pay charge rates while raising new incomes to bankroll social protection programs for society's most powerless segments. 

He likewise said that Spanish organizations are keen on putting resources into the Philippines' framework development, especially rail ventures, calling attention to that Spain has the second biggest rapid railroad system on the world alongside China. 
Also, Dominguez informed the Ambassador that one of the need objectives of the administration is to diminish the destitution rate in the nation from a year ago's 26 percent to 17 percent when President Duterte moves to one side in 2022 by expanding framework spending outside Metro Manila that would interface groups as well as make important occupations.

Dominguez told the Ambassador that the essential objective is to cut individual and corporate income taxes, while, in the meantime,  simplifying and improving tax administration, adjusting fuel excise taxes, imposing a sugar tax as a health measure, and plugging leakages in value-added tax (VAT) exemptions.

Dominguez also expressed his appreciation for Spain’s grant of Official Development Assistance (ODA) to the Philippines and ongoing projects in the Autonomous Region in Muslim Mindanao (ARMM).



Source: GMA

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