The Department of Finance stood firm in its decision to impose higher income tax on private schools, saying the regulation can only be changed by the Supreme Court or an amended Tax Code.
"As stated earlier, the RR (revenue regulation) is based on Supreme Court decisions and the Tax Code. We will, however, respect and implement any future decision of the Supreme Court or enacted legislation concerning this matter," Finance Secretary Carlos Dominguez 3rd Dominguez said in a message over the weekend.
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