DoF stands firm on private school tax hike

By Mayvelin U. Caraballo

Jun 08, 2021 1:02 am

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.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

PH hit seen from reciprocal tariffs

Injap Sia pledges P10M to match PERA accounts

Trump tariffs could upend global trade

Nickel producers air export ban concerns

PPP list expands to 176 projects worth P2.47T

Tariff worries pull down stocks, peso

Add to heart: The evolving business of Valentine's Day shopping