Finance Secretary Benjamin E. Diokno said his department is considering a carbon tax, and is currently working out whether such a measure is practicable. READ:
“Carbon tax too, if feasible,” Mr. Diokno told reporters in a Viber message after being queried on fund-raising initiatives under consideration by the new government.A tax on carbon emissions was contemplated in the third package of former Finance Secretary Carlos G. Dominguez III’sIf approved, the third package is set to be implemented in 2025. The impact on government revenue has yet to be determined.
A carbon tax is levied on businesses that emit carbon dioxide, with the proceeds helping support greenhouse gas mitigation projects while forcing companies to address their own emissions to minimize their tax exposure. Mr. Diokno also signaled the possibility of imposing a tax on single-use plastics in an interview with the ABS-CBN News Channel on Wednesday.
“The Philippines is probably one of the most vulnerable with respect to climate change, and so it is in our own interest that the movement towards climate change should be supported,” he said. “I think we on our part, on the tax side, should think of some measures that we can do to reduce pollution. For example, a tax on single-use plastic is worth considering.”scal consolidation plan, although it had been targeted for rollout in 2023.
The previous government estimated that the tax can raise P249 billion or more every year, with the revenue going towards paying down the P3.2 trillion in additional debt incurred during the pandemic.Mr. Diokno formerly served as co-chair of the previous administration’s so-called “Green Force,” an Inter-Agency Task Force for Sustainable Finance.In April 2021, President Rodrigo R.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Diokno wants single-use plastic taxThe Department of Finance (DOF) would support the imposition of a tax on single-use plastic packaging to combat pollution.
Baca lebih lajut »
Continuation of fuel subsidies to be funded by windfall of fuel taxes — DioknoThe Marcos administration’s plan to continue its predecessor’s fuel subsidy program for the public transportation sector will be funded by taxes collected from petroleum products, Finance Secretary Benjamin Diokno said Wednesday.
Baca lebih lajut »
Marcos isn’t disputing inflation data—DioknoFinance Secretary Benjamin E. Diokno clarified that President Marcos is not disputing the Philippine Statistics Authority’s (PSA) June inflation report, saying the chief executive only misinterpreted the data given to him.
Baca lebih lajut »
Fuel excise tax suspension will induce more economic activities — Poe - BusinessWorld OnlineSENATOR Mary Grace S. Poe-Llamanzares, who will again chair the chamber’s Public Services Committee, said a suspension of fuel excise tax to lower pump prices will not just benefit public transport drivers and delivery riders but also prompt more economic activities.
Baca lebih lajut »
Continuation of fuel subsidies to be funded by windfall of fuel taxes — DioknoThe Marcos administration’s plan to continue its predecessor’s fuel subsidy program for the public transportation sector will be funded by taxes collected from petroleum products, Finance Secretary Benjamin Diokno said Wednesday.
Baca lebih lajut »