Bomualil et etrnlains swifi

Pl]lm G0mmittGG olrau

House rules, which em- bers of the committee
powers the committee to there being a quo-
immediately pass bills and li;:#,
resolutions approved on Salceda said the bill
THE House comrnittee on third and final leading by proposes to make capital
rflays. and means yester- the preceding Congre-ss. income and financial inter-
daf approved the "fourth "Once constifuted, the mediarv taxes "simoler.
package of President Ro- c-ommittees responsible for fairer aird more efficient''
drigo "Rody" Duterte's these measures may meet for the goverrunent to eam
Comprehensive Tax Re- for iust one meetirig and P4.2 billion in revenues.
form Program (CTRP) imniediatelv refer the com- "This bill seeks to re-
aimed at generating P4.2 mittee reports for plenary form the taxation of caoi-'
billion in"additionii rev- deliberation. This i's oossr- tal income and financlal
enues for the govern- ble if thev invoke Sirction seryices in the country, by
ment. 48 of thr5 House rules," redesigning the finahcidl
The nanel chaired bv Romualdez explained. sector taxation into a sim-
Albay Rep. Joey Salcedi Section 48 of the House pler, fairer more efficient
unanimouslv rules provides that: "In and a revenue neutral tax
approved House BiIl
aPProveo nouse Dlll (ttb)
nru fHdl
(FIB) case of biils or resolutions system," said Salceda.
304, or the'Passive Income that are identified as pri- Salceda added "the
and Financial Intermedi- ority measures of lfue approval of this bill is ear-
ary Taxation Act" (PIFI- House, which were-pred- *
nestly sought so we can
TA).in jqs! one hearing. ously filed in the imhredi- compete better in attract-
The bill has been recom- ately preceding Congress ing capital and inveshent
mended for plenary action. and have already been which is urqentlv needed
House Maioritv Leader approved on 3rd reading, to finance ffifradtructure,
and Levte Rep. Martin Ro- the same mav be disooseill create more and better iobs
muald6z expfained the Sal- of as matter:s already re- and boost the inclu6ive
ceda comriittee invoked portd upon the appioval and sustainable growth of
Rule 10, kion 48 of the of majority of the mem- the economy."
re€7