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Tax justice campaigners join a protest action in Quezon City on October 30, 2021, denouncing the supposed “tax deal of the rich” by the G20 before the People's Assembly for Tax Justice. The People's Assembly for Tax Justice is calling for the rich to be taxed and for new tax rules to be negotiated in a U.N. Tax Body. Romy Mariano, ABS-CBN News

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Tax justice protest

Andrea Taguines

ABS-CBN News

<p>MANILA -- The Freedom from Debt Coalition (FDC) on Wednesday again pushed for the imposition of a wealth tax as the best way to help generate revenues for the government in the face of ballooning debt. </p><p>This comes a day after the Bureau of Internal Revenue (BIR) announced that the 1 percent creditable withholding tax on online merchants has now taken effect.</p><div><a href="https://news.abs-cbn.com/business/2024/7/16/online-shops-to-impose-withholding-tax-on-sellers-starting-july-15-bir-1034">Online shops to impose withholding tax on sellers starting July 15: BIR</a></div><p>“Nung nag-pandemic, ang dami sa atin na nagsubok na magbenta online. Nakahanap ng paraan para magcope ang mga tao tapos madadagok naman sila dito. Bakit hindi mo targetin yung mas mayayaman? Habulin ninyo yung mga tao na nagtatago ng financial flows?” said FDC Vice President Raquel Castillo.</p><p>(During the pandemic, so many of us tried to sell online. We find ways to cope, but now this will hurt them. Why don&#x27;t you target the rich? Go after the people hiding their financial flows?)</p><p>The group has repeatedly pushed for a wealth tax on individuals whose net worth exceeds P300 million.</p><p>“Kailangan ng additional resources ng ating bansa. Obviously, hindi naman pwedeng magdagdag tayo ng additional loans dahil ang taas na nga ng debt burden natin e… Walang ibang kayang magbigay ng additional na kontribusyon sa gobyerno kundi yung mga bilyonaryo,” said FDC’s Atty. Tony Salvador.</p><p>(Our country needs additional resources. Obviously, we can&#x27;t take on additional loans because our debt burden is already high, no one else aside from billionaires can give additional contributions to the government.)</p><p>The Philippines&#x27; national debt rose further to P15.35 trillion at the end of May. </p><p>Given this, Salvador said tax administration measures alone simply will not work.</p><p>“Kadalasan ang thinking ng mga tax authorities, hindi lang sa Pilipinas kundi sa ibang bansa, palagi nilang igigiit na ang issue ay tax administration. Of course, totoo yun. Pero hindi lang yun ang issue. Merong limit kasi yung kakayahan mong mangolekta ng taxes through tax administration lamang,” he said.</p><p>(Often, tax authorities in the Philippines and abroad always insist on the issue of tax administration. Of course, that&#x27;s true. But that&#x27;s the only issue. There is a limit on a nation&#x27;s ability to collect taxes just through tax administration.)</p><p>The group said it will again try to find lawmakers willing to sponsor their proposed bill.</p><p>As President Ferdinand Marcos Jr. enters his second term in office, Salvador hopes he will veer away from neoliberalism thinking of not taxing the rich.</p><p>“Isa sa mga features ng neoliberalismo, wag daw i-tax yung mga bilyonaryo kasi pag hindi mo sila ita-tax, yung perang matitira nila iiinvest nila para lumago raw yung ekonomiya. Kung matatandaan natin, sinubukan na ni Trump yan 2017,” he shared.</p><p>“Lahat ng study, sinasabi, hindi nagkatotoo na nag-invest yung mga bilyonaryo,” according to Salvador.</p><p>(That&#x27;s one of the features of neoliberalism--don&#x27;t tax the billionaires so they can invest their leftover money to help grow the economy. Trump tried that in 2017. All studies show, it&#x27;s not true that billionaires reinvest.)</p><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/SXXISIRcjQ4?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The Freedom from Debt Coalition (FDC) on Wednesday again pushed for the imposition of a wealth tax as the best way to help generate revenues for the government in the face of ballooning debt.</p>

The Freedom from Debt Coalition (FDC) on Wednesday again pushed for the imposition of a wealth tax as the best way to help generate revenues for the government in the face of ballooning debt.

Withholding tax for online sellers? Group says tax the rich instead

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Withholding tax for online sellers? Group says tax the rich instead

Andrea Taguines,

ABS-CBN News

Published Jul 17, 2024 05:40 PM PHT

Read More:

tax

tax the rich

taxes

buwis

BIR

online tax

online selling

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