FINANCE Secretary Benjamin Diokno said that he has asked President Ferdinand R. Marcos Jr., to certify as urgent, various tax measures that would help them fund the  2024 national budget.

Diokno said that at least four tax revenue measures can be used to help augment the proposed P5.77 trillion national budget for 2024.

He likewise added that the said taxes will also help them with gaining the 5.1 percent deficit-to-GDP target for 2024.

He also asked Marcos to certify the following bills as urgent: Package 4 of the Comprehensive Tax Reform Program (CTRP), the Value Added Tax on Digital Service Providers, and the Excise Tax on Single-Use Plastic Bags. 

“So, we ask the President to act on the following request, these are some tax measures – VAT on digital services; excise tax on single-use plastic – this is for climate change proposal. Ito namang VAT on digital services – this is based on fairness kasi kung bibili ka sa brick-and-mortar store or regular store nagbabayad ka ng VAT bakit hindi ka na lang magbayad sa digital service,” Diokno said.

Presently, the bills are currently in the advanced stages of the Senate Ways and Means Committee. 

Once approved, the measures will generate revenues totalling to P32 Billion or 0.1 percent of the country’s GDP.

Meanwhile, Diokno underscored that they asked Marcos to certify as urgent the Excise Tax on Sweetened Beverages and Junk Food, which is expected to generate P75.7 Billion in revenues for the government.