Government Revenues Up in First Half of 2016

Government revenues in the first half of 2016 were equivalent to 16.01 percent of gross domestic product (GDP), higher than the 15.5-percent goal for the year. Taxes were equivalent to 14.28 percent, above the target of 14.1 percent. In the previous administration, revenue effort was targeted at 18.1 percent, with tax-to-GDP alone at 17 percent; last year, both ended up at 15.9 and 13.7 percent, respectively. The Duterte administration is planning a tax reform program effective next year that will see income…

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