Marcos backs higher taxes on luxury goods

By Catherine S. Valente

Feb 08, 2023 12:02 am

PRESIDENT Ferdinand 'Bongbong' Marcos Jr. on Tuesday expressed his support for a bill seeking to impose higher taxes on luxury or nonessential goods on top of other current taxes.

Marcos issued the statement after Albay Second District Rep. Jose Ma. Clemente 'Joey' Salceda filed House Bill (HB) 6993, which seeks to amend the National Internal Revenue Code by increasing the nonessential goods tax from 20 percent to 25 percent and to expand its coverage to more luxury items.

Albay Second District Rep. Jose Ma. Clemente "Joey Salceda. FILE PHOTO BY ENRIQUE M AGCAOILI

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