Bicam lowers estate tax, hikes deductions, relaxes rules in favor of heirs
December 6, 2017
The Senate and House conferees to the panel finalizing President Duterte’s proposed new taxes have agreed “to cut the rates and the requirements” on the estate tax, which is levied on a deceased person’s assets. Senate President Pro Tempore Ralph Recto said “billions in properties left behind by hundreds of thousands of departed Filipinos” remain in limbo for the failure of their he
Batay sa umiiral na Government Procurement Reform Law o Republic Act 9184, sinabi ni Senador Ralph Recto na obligasyon ng gobyerno na bawiin ang ibinayad nito para sa sablay na produkto at serbisyo. Sa batas ding ito, katungkulan naman umano ng kumpanyang Sanofi na ibalik ang natanggap nitong bayad dahil saklaw ito ng warranty. #dengvaxia
A reenacted budget arising from a House-Senate deadlock would result in a “spending regime fraught with legal landmines,” which would grant the executive branch wide discretion on how public money will be spent, Senate President Pro Tempore Ralph Recto warned on Monday. ... See MoreSee Less
The Senate approved on 3rd and final reading the first package of tax reforms proposed by the Duterte administration, seeking to increase Filipinos' take-home pay while raising taxes on fuel, cars, housing, and sugar-sweetened beverages. Voting 17-1, the chamber passed Senate Bill 1592 or Tax Reform for Acceleration and Inclusion (TRAIN) on Tuesday, November 28, after marathon deliberations. Only Senator Risa Hontiveros opposed the passage of the measure. ... See MoreSee Less
Senate President Pro-Tempore Ralph G. Recto is a competent, dedicated and diplomatic public servant. His devotion to family and community, unrelenting desire to make a better life for others, consummate passion for his work, and interactive leadership style serve as the firm foundation upon which he built a reputation as a young and committed leader whether as a legislator or a national executive.