Salceda pushes for higher taxes on luxury goods

Salceda pushes for higher taxes on luxury goods

By Liezelle Soriano

Luxury items (BW Disrupt photo courtesy)

MANILA — Albay Rep. Joey Salceda said that his committee is studying to impose a higher tax on luxury goods in the face of the call to increase the collection from the rich.

Salceda, who is the chairman of the House and Ways Committee, said that this is amid Oxfam International’s call to impose higher taxes on the Philippine government for the super-rich.

“The committee is particularly studying taxing wristwatches, bags, and other leather items above P50,000, private jets, luxury cars above P5 million, the sale of residential properties above P100 million, beverages above P20,000 per bottle, traded paintings above P100,000, among other items,” Salceda said.

The lawmaker said that the levels of inequality in the country are obscene that is not only in income or wealth, but it is also present in the concentration of economic power.

“We have the highest concentration of business in the hands of a few among all ASEAN countries. And it leads to having a cartel pretty much in every essential industry,” the lawmaker added.

(ai/mtvn)

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