SENATE President Vicente Sotto 3rd on Saturday said no senators intend to file a measure seeking the passage of Train 2, which aims to rationalize tax incentives.
The senators, he added, may opt to wait for the House of Representatives’ version of the proposed package 2 of the Tax Reform Acceleration and Inclusion (Train) Law.
The Senate chief said all tax measures must emanate from the House.
“P’wedeng ‘di kami mag-file. Antayin namin ang version ng House [We can opt not to file. We will just wait for the House’s version],” Sotto said in a radio interview.
Euvimil Mina Asuncion, Department of Finance (DoF) director for strategy economics and resource group, confirmed that no senator wants to sponsor Train 2 now.
“But we have not stopped explaining to the senators.We are thankful they allowed us to discuss it with them. We can wait for the [House] to pass its version,” she said.
“Package 2 is revenue-neutral. Train 2 is only for unnecessary or redundant incentives,” Asuncion told a Train forum at the Colegio de San Juan de Letran in Manila.
Sotto noted that the Senate has its own versions of the rice tariffication bill and the tax incentives bill.
“The mentality of most members of the Senate is to look at how we would be able to help in trying to control inflation and the rising prices of commodities,” he said. “So, if ever these bills that I mentioned are presented, whether it is Train 2, then we will take it up. If not, we will follow the Senate version, which is addressed toward better tax incentives and other issues.”
In an earlier interview, Sotto said he was not familiar with the Department of Finance version.
“But I hear from our ways and means chairman and the members of the Senate, the Senate President Pro Tempore and Sen. Panfilo Lacson [that] our version sounds better,” he added.