Philippines Won’t Impose New Taxes at This Time: Finance Chief

President Ferdinand Marcos Jr.’s administration won’t impose new taxes “at this time” given government’s robust fiscal position even as it crafts measures to brace itself against global uncertainties, his finance chief says.

• “Strategic measures were prepared to ensure fiscal sustainability and provide necessary buffers amid rising global economic uncertainty due to political tensions, prolonged higher interest rates, and unpredictable trade policies,” Finance Secretary Ralph Recto says in a statement on Tuesday
• New tax measures aren’t needed at present “given our current strong fiscal performance,” Recto says, citing 1Q tax collections that grew 13.6% y/y to 931.5b pesos
• Government to ...