Marcos: Proposed Higher Tax On Luxury Goods "Reasonable"

President Ferdinand "Bongbong" Marcos Jr. has deemed "reasonable" the proposal to increase taxes on luxury goods from 20 percent to 25 percent.

Photo Insert: The measure will supposedly help the government gain around P15 billion in additional taxes.

"Palagay ko naman (I think), it’s reasonable that we will tax the consumption side of those who are consuming luxury items," Marcos said in an interview on the sidelines of the national tax campaign kick-off event in Pasay City.

Albay 2nd District Representative Joey Salceda is pushing for higher taxes on luxury goods on top of other taxes. He recently filed House Bill No. 6993 which seeks to amend the National Internal Revenue Code, increasing the tax on non-essential goods from 20 percent to 25 percent.

The measure, Salceda said, will help the government gain around P15 billion in additional taxes.

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