Legislator says Finance department open to discussing tax on billionaires - BusinessWorld Online

Legislator says Finance department open to discussing tax on billionaires - BusinessWorld Online

THE Department of Finance (DoF) is open to discussing a “wealth tax,” a legislator said at the DoF’s budget hearing, which could signal greater willingness by the government’s chief fund-raiser to consider new sources of revenue after a longstanding no-new-taxes position. Sultan Kudarat Rep. Bella Vanessa B. Suansing, speaking at the hearing late Wednesday with Finance Secretary Ralph G. Recto seated near her, said: “The DoF is very open to disc…