The Department of Finance (DOF) rejected reports suggesting the government plans to impose new taxes, citing strong revenue performance and prudent fiscal management as reasons additional tax measures are unnecessary at this time.
Finance secretary Ralph Recto said Tuesday that the government’s current fiscal position allows it to meet public needs and sustain economic growth without introducing new taxes.
“There is no need for additional taxes at this time,” Recto said. “We are meeting our expenditure requirements and growing the economy without having to impose new taxes on our kababayan.”
For the first quarter of 2025, total tax collections rose by 13.55 percent to P931.5 billion. The Bureau of Internal Revenue (BIR) collected P690.4 billion, a 16.67 percent increase from the same period last year. The Bureau of Customs (BOC) posted P231.4 billion in collections, up 5.72 percent.
Recto credited the continued success of tax administration reforms, digitalization, and enforcement for the double-digit growth. He also underscored that the government remains committed to fiscal sustainability and debt reduction, aligned with the Medium-Term Fiscal Framework (MTFF).
“Strategic measures were prepared to ensure fiscal sustainability amid global uncertainties, but given our strong fiscal performance, these are not needed at this time,” he explained.
In addition to upholding current tax policy, the DOF is pushing for long-term economic reforms, including the CREATE MORE Act, the Ease of Paying Taxes Act, and amendments to investment liberalization laws and the Public-Private Partnership (PPP) Code. The department is also looking to expand non-tax revenue sources to meet targets under the Budget of Expenditures and Sources of Financing (BESF).
Recto also warned against the spread of fiscal disinformation as the national elections approach.
“Disinformation tends to proliferate during the elections,” he said. “We encourage the public to verify information through official channels, especially when it concerns government policy.”
He reaffirmed that the administration’s priority remains balancing growth and stability—without burdening the public with new taxes.
