Manila Bulletin
Tax reforms, coco levy, infra highlight Duterte’s ‘lasting legacies’ -- Dominguez
Cabinet officials highlighted the Duterte administration's tax reforms, infrastructure projects, and COVID-19 response during the "Duterte Legacy Summit."
Finance Secretary Carlos Dominguez III stated that the country is in a better financial and fiscal position compared to 2016, capable of weathering the COVID-19 pandemic.
Dominguez also mentioned that the incoming Marcos administration will inherit significant reforms in finance, trade liberalization, foreign investments, and public services.
A key achievement cited was the tax reform program, which modernized tax policy, digitalized collection, and accumulated over P575.8 billion, contributing to a record low debt-to-GDP ratio of 39.6 percent in 2019.
The administration also implemented what Dominguez described as the largest social protection program in Philippine history, allocating P3 trillion for pandemic response.
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