We must not promise what we ought not, lest we be called on to perform what we cannot. -- Abraham Lincoln

Friday, June 4, 2010

PROMISE: No new or increase in taxes

Benigno "Noynoy" Aquino Jr. III said on Thursday he would not impose new taxes or increase tax rates if elected president.

He told members of the Makati Business Club that he would pursue the rationalization of fiscal incentives given to investors as part of efforts to plug revenue leaks and lower the budget deficit.

"We will refrain from imposing new taxes or increasing tax rates," Aquino told the business forum. "I strongly believe that we can collect more taxes at the BIR (Bureau of Internal Revenue) and higher duties at customs if we become more serious in curbing and punishing tax evasion and smuggling."

STATUS: Pending.

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