The tax reform bill is critical to the development of the Philippine economy.There were clear evidences that the bill would be passed by both houses of congress. In the House of Representatives, it was the Speaker himself who sponsored the bill; while in the Senate, the Chairman of the Ways and Means Committee has been conducting field trips to promote the notion of the tax reform bill.
The bill has also been getting broad support - from the conservative business groups to the cause-oriented groups – because the bill is pro-poor and pro-progress.
The tax reform package has three parts: a) individual and corporate income tax; b) excise tax, particularly on beer and cigarettes. Under this second part, there is now a raging public debate between San Miguel Corporation which favors specific tax and t he group of Lucio Tan, which prefers the ad valorem tax.
