Tag: Ralph Recto

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Ping Lacson’s LGU-Empowering Proposal Gets Vilma Santos’ Support

Independent senatorial candidate Panfilo “Ping” M. Lacson’s proposal to empower local government units (LGUs) by giving them a one-percent rebate on their Value-Added Tax collections has gained a super fan.

Lacson said former Batangas Rep. Vilma Santos-Recto, who is running for governor in the 2025 local elections, was happy with the idea of a rebate that would go to development, infrastructure and livelihood programs.

“Former Rep. Vilma Santos, who is running for governor, was very happy with the proposal,” he said in Filipino, in an interview on DZRH Thursday afternoon.

“She jokingly told me she would take care of Sec. Recto and lobby with him every night to not oppose the proposal because it is very sound,” he added.

Related: Panukala ni Ping Lacson para Palakasin ang LGU, Suportado ni Vilma Santos

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Recto Endorses Ping Lacson’s Senatorial Bid, National Budget Advocacies

BATANGAS CITY – Independent senatorial candidate Panfilo “Ping” M. Lacson on Saturday scored a double win here after getting the endorsement of Finance Secretary and former senator Ralph Recto not just for his senatorial bid but also for his advocacy to empower local government units (LGUs).

In throwing his support behind Lacson’s senatorial bid, Recto said he is confident Lacson will keep watch over the national budget to make sure taxpayers’ money will be used properly.

“I am sure Ping Lacson will guard the budget where the government spends P16 billion a day. His and fellow senators’ role will be important in this respect,” he said in Filipino at a gathering with local mayors here Saturday afternoon.

Related: Recto, Inendorso ang Senatorial Bid at National Budget Advocacies ni Ping Lacson

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On DOF Getting Netflix’s Support for VAT on Digital Services

Thank you, Ralph for making what was almost impossible for the Philippines to accomplish a few years ago almost possible under your watch.

Being able to actually tax Netflix is just one of several steps to take, though. Just imagine if we could tax all the others…

To both instant bashers and sober observers: Unfortunately, yes – if DOF succeeds in capturing Netflix, YouTube Premium, Premium X and other foreign online digital services for VAT purposes, the same will be passed on to us, subscribers.

That said, I am looking at the income tax to be collected in case they have local offices and distributors based here. Better to collect than not at all.

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On Meeting 2024 Revenue Targets

We can truly celebrate if revenues are equal to expenditures. Assuming the other half of our revenue target of P4.27 trillion is achieved in the second semester, with a 2024 national budget of P5.767 trillion, our budget deficit this year is still huge at P1.5 trillion.

I am aware that debt and deficit are a given in all economies. The US, for example is drowning in debt with US$34T (121% of GDP) and Japan (255%) but their toll-free multi-level highways and other public infra as well as their social services are far better and more efficient.

*****

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Read: Senate Bill 1844, Authorizing the President to Expedite the Processing and Issuance of National and Local Permits and Licenses

“This bill seeks to authorize the President, during the time of national emergency, to suspend the requirements for national and local permits, licenses and certifications, and to streamline and expedite the process for the issuance of the same. While this may be a small step, it surely can create a significant impact on all enterprises. Likewise, this move could ease the already heavy burden of the businesses that were heavily hit and continuously being beaten by the gargantuan effects of the pandemic. This Act could be one of the needed breathers of the crumbling enterprises. And ultimately, this will redound to the benefit of our economy and encourage investors to capitalize in the country.” (co-author with Senators Sotto, Recto, Zubiri and Drilon)

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