THIRD District Rep. Alfredo Benitez of Negros Occidental assured the public of partnership between Congress and the Bureau of Internal Revenue (BIR) to improve the national policy environment on taxation.
"I enjoin all of you to continue your good work here and rest assured that we in Congress shall also fulfill our part in ensuring substantial resources in the country’s coffers without sacrificing the respective needs and welfare of the local industries and ordinary citizens," Benitez said in his message read by Bacolod City Vice Mayor Greg Gasataya during the kick-off of the BIR Tax Campaign at SMX Bacolod Convention Center on Wednesday.
He added: "Much more relevant to your role here in the region is the work that we do in Congress. Our so-called power of the purse makes us partners in ensuring that sustained funding are existing in order to achieve significant development work in the country. Your humble representation is also a member of the committee of ways and means, which is tasked to deliberate on proposed measures that impact on your work."
Benitez also gave emphasis on the actions of Congress on relevant taxation measures.
"The direction of the committee is towards the rationalization of fiscal incentives paralleled also with the effort to unburden the overtaxed working and middle class in our society," he said.
First, the House committee on ways and means has successfully enacted into law the measure increasing the13th month pay exemption, he said.
The law grants tax relief to the working Filipinos by mandating that the 13th month pay and other benefits, including productivity incentives and Christmas bonuses, not exceeding P82,000, given to both government and private sector employees will be exempted from tax.
As reported by the committee, “the newly enacted law has provided for the automatic adjustment of the ceiling every three years, taking into account inflation to ensure that the tax ceiling won't be left unchanged again for more than two decades.”
Second, another initiative of the committee on ways and means is to pass the Rationalization of Fiscal Incentives Bill.
“The committee, led by our chair, Congressman Miro Quimbo, is working closely with the Department of Finance and the BIR on this measure,” Benitez said.
The proposed law seeks to rationalize the grant and administration of fiscal incentives for the promotion and growth of investments.
“As the bill deals with sensitive matters to local industries, especially the ailing ones, this is still under careful deliberations by the committee. After all, I know we are all in agreement that if we are aiming for inclusive growth, we should lean towards tax equity instead of repressive taxes," Benitez added.