The National Economic and Development Authority (NEDA) asked Congress to pass revenue-generating bills to support the government’s goal of inclusive and sustainable social and economic transformation as the 19th Congress resumed its second regular session.
“It has been one year since the launch of the Philippine Development Plan [PDP] 2023-2028. While we saw some of our headline indicators improve, much remains to be done,” NEDA Secretary Arsenio Balisacan said.
“To ensure that we remain on track to meet our goals by 2028, and in anticipation of future challenges and scenarios, we must pass key legislative measures aimed at strengthening the country’s economic governance and addressing the structural weaknesses of our production sectors,” he said.
The NEDA chief is pushing for the revenue-generating bills such as the Real Property Valuation and Assessment Reform (RPVAR) and the VAT on Digital Services.
Meanwhile, the proposed Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) aims to improve tax administration for enterprises, encourage investments and promote the ease of business in the country.
These measures include the bills on the Department of Water Resources, Open Access in Data Transmission and the various fiscal reforms that seek to strengthen tax administration and broaden the tax base.
President Ferdinand Marcos Jr., in his second State of the Nation Address (SONA), underscored the importance of the proposed Department of Water Resources, which will serve as the primary agency responsible for the comprehensive and integrated water resources development and management in the Philippines.
The government has more than 30 agencies with overlapping functions over the country’s water resources, which leads to uncoordinated planning efforts and inconsistent implementation of policies that adversely affect the country’s water supply.
This affects about 12.40 million people who obtain water from unsafe sources, with some areas needing more water service providers.
NEDA is also pushing for enacting the proposed Open Access in Data Transmission Act as part of the common legislative agenda of the Legislative-Executive Development Advisory Council chaired by President Marcos.
The bill aims to narrow the digital divide in the country by encouraging the development of data transmission infrastructure, removing barriers to competition in data transmission services, and enabling the full potential of e-commerce, digital trade, and applications in the fields of education, health, and agriculture, among others.
The proposed measure promotes further liberalization of the telecommunications sector by removing the requirement of a legislative franchise for players seeking to build their networks, rationalizing access and use of the country’s scarce spectrum resources, and making it easier for entrants to provide better services for consumers at more competitive prices.