The Philippines is considering introducing a raft of new taxes to fund economic stimulus in the wake of the coronavirus pandemic, despite the risk that these levies could slow economic activity even further.With an economy that is expected to contract by the most in at least three decades this year, the Philippine government’s ability to marshal fiscal stimulus is limited. Its commitment to keeping the fiscal deficit at 9 per cent or less of gross domestic product means Manila can spend only…
from South China Morning Post https://www.scmp.com/news/asia/southeast-asia/article/3089513/philippines-eyes-new-taxes-fund-economic-stimulus-amid
Thursday, June 18, 2020
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