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DOF welcomes inclusion of single-use plastic tax, rationalization of mining tax in gov't priorities

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<p>MANILA - The Department of Finance welcomed the inclusion of its endorsed bills under the common legislative agenda for the 19th Congress, announced during the Legislative-Executive Development Advisory Council meeting last Sept. 20, Secretary Benjamin Diokno said.</p><p>In a briefing with the media, Diokno said the DOF backs the Public-Private Partnership Act, Package 3 on Real Property Valuation and Assessment Bill, Ease of Paying Taxes Bill, Automatic Income Classification of Local Government Units BIll, Excise Tax on Single-Use Plastic Bill and the Rationalization of the Mining Fiscal Regime.</p><p>&quot;The Department of Finance welcomes the inclusion of the Excise Tax on Single-Use Plastics and the Rationalization of the Mining Fiscal Regime,&quot; Diokno said. </p><p>The Senate has approved on second reading of the PPP Act, while its counterpart in the House of Representatives was approved in December. It aims to enhance the Build-Operate-Transfer Law and its IRR, Diokno said.</p><p>&quot;With the thrust of this administration to harness private capital in financing infrastructure development, this law ensures fair and equitable opportunities for the private sector,&quot; he said.</p><p>Diokno said they&#x27;re hoping the Senate would approve the measure by Sept. 25.</p><p>Meanwhile, in an analysis of the national budget, the Congressional Policy and Budget Research Department (CPBRD) estimated that the excise tax on single-use plastic could generate some P6.5 billion in 2024.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/22/23/p1205-billion-revenue-seen-from-new-tax-measures">P120.5-billion revenue seen from new tax measures</a></li>	<li><a href="https://news.abs-cbn.com/news/09/20/23/congress-on-track-to-pass-20-priority-bills-before-end-of-2023-palace">Congress &#x27;on track&#x27; to pass 20 priority bills before end of 2023: Palace</a></li></ul><div><br/><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/fXCrQJ3v0AU?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The Department of Finance welcomed the inclusion of its endorsed bills under the common legislative agenda for the 19th Congress.