MANILA, Philippines — Malacaang on Thursday said it is supporting the increase in corporate income tax of private schools.
Presidential spokesperson Harry Roque said the Palace is supporting the position of Finance Secretary Carlos Dominguez II, who stood firm on the Bureau of Internal Revenue’s (BIR) decision to impose higher income tax on private schools.
Dominguez stood firm on the BIR regulation, noting the bureau followed the original definition of the Tax Code when they crafted the new ruling.
“Nagsalita na ang ating kalihim na Secretary of Finance and we, of course, support the position of the Secretary of Finance, na ‘yung interpretasyon ng BIR doon sa no…
Keep on reading: Palace backs corporate income tax hike on private schools