March 21, 2023

Taxing the rich is difficult, Ex-BIR Chief says

Former BIR Commissioner Atty. Kim Henares said on Tuesday that challenges such as the bank secrecy law would make it difficult to tax the richest 1 percent in the country.

“Mahirap mag impose ng bagong taxes, kasi hindi magandang pakinggan. Pag mag impose ka ng bagong taxes, marami kang malalaking tao na kalaban, so mahirap. Whether it’s time or not, anything that imposes new taxes is going to be an uphill climb,” she said.

Atty. Henares adds that taxation is progressive and “the more you have, you should pay higher taxes”. The former commissioner says that her only concern is how it should be imposed.

Meanwhile, as the wealth tax is yet to be implemented, Henares said that the government must work on improving revenue generation and spending efficiency.