PRESIDENT Rodrigo Duterte vetoed the general tax amnesty provision under the Tax Amnesty Act because of the absence of measures that would “break the walls of bank secrecy,” Finance Secretary Carlos Dominguez 3rd said late Saturday.
“The President was constrained to veto the portion of the law covering the general amnesty because of the lack of provisions breaking the walls of bank secrecy, setting the framework for complying with international standards on exchange of information, and other safeguards against those who abuse by declaring untruthful assets or net worth,” Dominguez said.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.