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Miclat, Mharika Anne E. GEC-002BAMM12S1: 1. Whose Administration Do You Think Had The Best Taxation System and Why?
Miclat, Mharika Anne E. GEC-002BAMM12S1: 1. Whose Administration Do You Think Had The Best Taxation System and Why?
GEC-002BAMM12S1
1. Whose administration do you think had the best taxation system and why?
Assessing the tax reform programs of each administration made me come up with the fact that the
Philippines needs to have a more progressive and inclusive taxation system. However, looking at the
perspective of whose administration had the significant effects and less destructive impact on different
facets, I must say it is the administration of the former president Corazon “Cory” Aquino. She has the
most extensive and equitable taxation system in comparison to other administrations and their respective
programs.
Along with reductions in income tax rates and efforts to streamline tax administration, Aquino
introduced a notable reform and restructured the Philippine taxation system, introducing the VAT system.
These actions laid the foundation for a more modern, equitable, and efficient tax system that aided in the
nation's economic recovery and development in the post-Marcos era, raising taxes to a peak of 17% in
1987.
2. What is interesting that you noticed in TRAIN Law? Elaborate your answer.
Tax Reform for Acceleration and Inclusion or TRAIN law is one of the most well known legislation
and programs implemented under the administration of the former president Rodrigo Duterte. Considering
its economic impact on both macro and micro scale since its implementation, the most interesting part for
me is its correlation in worsening life conditions, how the aforementioned policy significantly impacted
the rate of inflation and how it acted as a catalyst to exacerbate poverty and inequality at its peak.
It is also interesting to note the irony that despite the fact that the said tax reform program was
designed to finance infrastructure projects under the "Build, Build, Build" program as an effort of the
administration to address infrastructure gaps in the nation and stimulate economic growth, the exact
opposite outcome was attained, leading to additional unanticipated consequences and inconsistencies in
the implementation.
Attendance: