Higher taxes for Pinoys possible in 2012, P-Noy’s "no new taxes" policy applicable only this year

(SPOT.ph) Malacañang said yesterday that President Noynoy Aquino’s campaign promise not to impose additional taxes is applicable only this year, reports Manila Bulletin. "I’m not sure if the ’no new taxes’ policy was for the entire six years (of President Aquino’s term). That was not the promise made. What we are very clear about is (that) there will be no (additional) taxes this year," presidential spokesman Edwin Lacierda said.

Lacierda added that the imposition of new or higher taxes in the future will depend on the Philippines’ fiscal condition and the advice of the President’s economic managers. Manila Bulletin quoted him: "Right now we are doing okay... We have good (revenue) and deficit (figures)."

Lacierda also declined to comment on questions about bills seeking to impose higher taxes on alcohol and tobacco to supposedly curb the government’s budget deficit.  "We haven’t seen the bill yet," he said. According to Lacierda, the administration will let Finance Secretary Cesar Purisima and Budget Secretary Florencio Abad comment on the proposed measure.

For more on this story, log on to Manila Bulletin.

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