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Byline: Michelle V. Remo
THE ASIAN DEVELOPMENT BANK SAID THE Philippines needed to be more mindful of its fiscal situation, urging the government to adopt measures that will help prevent the tax collection woes from reaching worrisome levels.
Neeraj Jain, country director of the ADB for the Philippines, said it would serve the domestic economy well if bills seeking to generate more revenues for the government would be enacted into law. These bills include the increase in excise tax for cigarettes and alcohol and the rationalization of fiscal incentives.
To improve the competitiveness of the Philippines, passage of the revenue-enhancement bills will help, …