NG to Raise P10 Billion in 2005 from Additional Fees and Charges

Article excerpt

Byline: LEE C. CHIPONGIAN

The Department of Finance said it would raise at least P10 billion additional revenues in 2005 from increased fees and charges.

Finance Secretary Juanita D. Amatong said based on the calculations of the Bureau of Treasury, this is the amount the government can expect from administrative measures.

"This will be the amount from administrative measures to be raised by the BTr, Bureau of Customs and Bureau of Revenues," Amatong said.

Amatong said raising government fees and charges are some of the alternative measures. "The government needs new taxes," she added.

These alternative measures include increasing the non-tax revenues if the tax revenues fail to material as programmed by the NG. These non-tax revenues are fees and charges from dealings with the government or money extracted from anyone with transactions with the state, and income from the BTr.

As another quick-fix revenue measures, the DoF is also reviewing how it could raise dividends from government owned and controlled corporations.

Based on DoF documents they plan to collect about P80 billion from non-tax revenues this year, P40 billion from the BTr and about P24 billion from fees and charges. This is a pittance, compared to the expected revenues if tax laws are passed.

For the entire 2004 the government hopes to collect P758 billion, which is 14.8 percent of gross domestic product. …