The Philippine Development Plan is the “economic blueprint,” that the Aquino administration will follow. It lays down the framework for fiscal reforms. PDP centers around a target to increase the tax effort (which is a ratio of tax revenues as a percentage of GDP). The government aims revitalize revenue leak campaigns such as the Bureau of Internal Revenue’s “Run after Tax Evaders,” and the Bureau of Customs’ “Run After Smugglers programs;” as well as the Department of Finance’s Revenue Integrity Protection Service.
With the publishing of PDP, it becomes clearer that Government intends to build a registry of its tax base.
The plan also calls for better trained Bureau of Internal Revenue, Bureau of Customs staff.
The National Economic Development Authority published the economic blueprint for the Aquino administration. The version posted on NEDA’s website is, according to Socioeconomic Planning Secretary Cayetano Paderanga, Jr., “more or less final, pending administrative procedures,” Business World quoted.
Business World also noted that the “Fiscal Incentives Bill,” is currently pending in Congress and is expected to be approved by the end of 2011. The Aquino administration aims to rationalize fiscal incentives with the passage of the bill.
The PDP noted that there should be a “Fiscal Responsibility Law,” that would promote discipline, and manage National Debt, and that any expenditure should be accompanied by a revenue-generating measure.
The document also highlights the government’s push for environment conservation.
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