Karl Kendrick Chua

Last updated on 2015-02-18T19:13+0300.

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Karl Kendrick Chua noted : “As we continuously implement varying levels of community quarantines and localized lockdowns in the country, we need the government and the private sector to tap local agricultural produce and maximize the use of digital technologies to ensure stability in the supply chain,” External link

tribuneonline Friday, September 18, 2020 8:18:00 PM EAT

Karl Kendrick Chua said : “Investments in cold storage facilities and innovations in food packaging and processing need to be increased as well, alongside the boosting of agricultural production, both in rural and urban areas, through the government’s ‘Plant, Plant, Plant program,’” External link

tribuneonline Friday, September 18, 2020 8:18:00 PM EAT

Karl Kendrick Chua noted : “While manufacturing is not yet in the positive territory, the trends of the volume and value of production in the last three months indicate an improvement in the trajectory of economic activity. This momentum suggests a gradual recovery of demand in the coming months until the end of the year,” External link

tribuneonline Saturday, September 5, 2020 10:40:00 PM EAT

Karl Kendrick Chua added : “Sustaining the gradual and calibrated opening of the economy largely depends on the level of community quarantine that would allow businesses to operate and permit workers to remain mobile. To make this possible, safe and a sufficient availability of public transportation can be supported by service contract subsidies if needed,” External link

tribuneonline Saturday, September 5, 2020 10:40:00 PM EAT

Karl Kendrick Chua noted : “As we continuously implement varying levels of community quarantines and localized lockdowns in the country, we need the government and the private sector to tap local agricultural produce and maximize the use of digital technologies to ensure stability in the supply chain,” External link

tribuneonline Friday, September 4, 2020 7:32:00 PM EAT

Karl Kendrick Chua said : “Investments in cold storage facilities and innovations in food packaging and processing need to be increased as well, alongside the boosting of agricultural production, both in rural and urban areas, through the government’s ‘Plant, Plant, Plant program,’” External link

tribuneonline Friday, September 4, 2020 7:32:00 PM EAT

Karl Kendrick Chua said : "This momentum suggests a gradual recovery of demand in the coming months until the end of the year," External link

xinhuanet_en Friday, September 4, 2020 10:16:00 AM EAT

Karl Kendrick Chua added : "Sustaining the gradual and calibrated opening of the economy largely depends on the level of community quarantine that would allow businesses to operate and permit workers to remain mobile," External link

xinhuanet_en Friday, September 4, 2020 10:16:00 AM EAT

Karl Kendrick Chua explained : “Although this is expected to weigh down on the economy in the short term as resumption of business operations is limited, this will give our health system some respite amid the recent rise in COVID-19 cases,” “It will also help improve productivity in the near-term as more lives are saved and consumer confidence restored,” External link

tribuneonline Tuesday, September 1, 2020 10:41:00 PM EAT

Karl Kendrick Chua said : “These will enable us to provide more support to the people and will also help cover budget priorities in 2020 and 2021 to help address the health crisis,” External link

manilatimes Tuesday, September 1, 2020 6:04:00 PM EAT

Karl Kendrick Chua said : “The recent loan portfolio performance showed improvements the past two years. For 2019, all indicators of absorptive capacity improved,” External link

tribuneonline Monday, August 31, 2020 10:22:00 PM EAT

Karl Kendrick Chua said : “The recent loan portfolio performance showed improvements for the past two years. For 2019, all indicators of absorptive capacity improved. We are grateful to our development partners for supporting us in our efforts to pursue much-needed reforms towards a higher growth trajectory and improving the quality of life of all Filipino people,” External link

manilastandardtoday Monday, August 31, 2020 4:18:00 PM EAT

Karl Kendrick Chua said : “We are optimistic the Bayanihan 2 will help the country bounce back from the crisis with its improved provisions on the healthcare system, public transport and restoring consumer demand,” External link

tribuneonline Tuesday, August 25, 2020 10:18:00 PM EAT

Karl Kendrick Chua said : “Moving forward, we are optimistic that the Bayanihan 2 will help the country bounce back from the crisis with its improved provisions on the healthcare system, public transport, and restoring consumer demand,” External link

abs-cbnnews Tuesday, August 25, 2020 7:30:00 AM EAT

Karl Kendrick Chua remarked : “Our country is facing the biggest crisis in nearly eight decades” External link

bworldcom Thursday, August 13, 2020 7:48:00 PM EAT

Karl Kendrick Chua said : “the government will focus on rebalancing its priorities from saving lives from just the Covid-19 virus to saving lives from Covid-19 and other factors, such as hunger and other diseases” External link

phnompenhpost Monday, August 10, 2020 6:48:00 AM EAT

Karl Kendrick Chua said : “As we build a healthier and more resilient Philippines, there are three areas to focus on: expanding economic opportunities, improving the capability of Filipinos to adapt under the new normal, and ensuring people-centered, clean, technology-enabled and responsive governance amid the pandemic,” External link

manilatimes Monday, August 10, 2020 4:46:00 AM EAT

Karl Kendrick Chua said : "Bumalik po tayo sa mga 50 percent, medyo bumaba po. It will have an impact on economic growth. Pero ang mahalaga dito kung hindi natin tutugunan ang kulang pa sa health care system and response, this problem will prolong itself," External link

abs-cbnnews Friday, August 7, 2020 10:20:00 AM EAT

Karl Kendrick Chua said : “A month of lockdown in the second quarter because of the ECQ affected us by almost P1.5 trillion,” External link

tribuneonline Thursday, August 6, 2020 10:36:00 PM EAT

Karl Kendrick Chua said : “We are not only concerned about the immediate GDP or economic activity. We have to balance that with the near-term GDP. In other words, we will have to be dancing with the virus. When the virus escalates or surge, we will have to respond appropriately,” External link

tribuneonline Thursday, August 6, 2020 10:36:00 PM EAT

Karl Kendrick Chua explained : “The priority was clearly to save lives from COVID-19,” “This decision is worth the lives saved” External link

thestandard-ph Thursday, August 6, 2020 9:25:00 PM EAT

Karl Kendrick Chua explained : “The priority was clearly to save lives from COVID-19,” “This decision is worth the lives saved” External link

manilastandardtoday Thursday, August 6, 2020 8:12:00 PM EAT

Karl Kendrick Chua said : “Although we expect that the overall consumer prices will remain benign until 2021, we recognize that the upside risks to inflation outlook still remain,” External link

tribuneonline Thursday, August 6, 2020 1:06:00 PM EAT

Karl Kendrick Chua said : “Although this [decision] is expected to weigh on the economy in the short term, as [the] resumption of business operations is limited, this will give our health system some respite amid the recent rise in Covid-19 cases,” “It will also help improve productivity in the near term, as more lives are saved and consumer confidence restored,” External link

manilatimes Thursday, August 6, 2020 9:28:00 AM EAT

Karl Kendrick Chua said : “As [Southeast Asian] countries account for more than 15 percent of the country’s total exports, the contraction in these countries’ GDP (gross domestic product) would need to be closely watched as [a] further drop in their economies could affect trade flows and may reverse the improvements in trade observed during the period,” External link

manilatimes Wednesday, August 5, 2020 9:12:00 PM EAT

Karl Kendrick Chua noted : “the country’s total merchandise trade registered a slower decline of 38.7 percent in May 2020 after a steep 59.5-percent decline in April 2020” External link

manilatimes Saturday, July 11, 2020 8:27:00 PM EAT

Karl Kendrick Chua said : “Export of manufactured goods, which accounts for almost 80 percent of total exports, is seen to gradually recover as the latest results of the Purchasing Managers’ Index for the Philippines rose from 40.1 in May to 49.7 in June,” “The Semiconductors and Electronics Industries in the Philippines Inc. also indicated a gradual pickup in semiconductors exports in the coming months and projected flat growth in 2020, notwithstanding the ongoing lockdown in Cebu, where some of the electronics firms are located,” External link

manilatimes Saturday, July 11, 2020 8:27:00 PM EAT

Karl Kendrick Chua noted : “the country’s total merchandise trade registered a slower decline of 38.7 percent in May 2020 after a steep 59.5-percent decline in April 2020” External link

manilatimes Friday, July 10, 2020 7:54:00 PM EAT

Karl Kendrick Chua said : “Export of manufactured goods, which accounts for almost 80 percent of total exports, is seen to gradually recover as the latest results of the Purchasing Managers’ Index for the Philippines rose from 40.1 in May to 49.7 in June,” “The Semiconductors and Electronics Industries in the Philippines Inc. also indicated a gradual pickup in semiconductors exports in the coming months and projected flat growth in 2020, notwithstanding the ongoing lockdown in Cebu, where some of the electronics firms are located,” External link

manilatimes Friday, July 10, 2020 7:54:00 PM EAT

Karl Kendrick Chua said : “As more firms reopen, we need to remind everyone that the risk of Covid-19 infection remains. It is very important for firms to strictly comply with minimum health standards to mitigate risks in the workplace. We need to make sure that our workers’ health is not compromised and that we are able to contain the spread of the virus,” “The whole-of-government, led by NEDA, is currently reviewing strategies and policies in the Philippine Development Plan 2020-2022. A number of strategies need to be scaled up and fast-tracked, particularly as they relate to technology and innovation. These will help firms and society, in general, become better prepared against future disruptions,” External link

manilatimes Wednesday, July 8, 2020 6:36:00 AM EAT

Karl Kendrick Chua said ( about Supply Chain ) : “Digital technologies, such as eKADIWA, a digital marketing platform, the Supply Chain Analytics (SCAn) Dashboard and the SCAn Reporter, are important government platforms to address potential supply bottlenecks and ensure ample and unhampered supply of commodities while many regions are still on various forms of community quarantine,” External link

manilatimes Tuesday, July 7, 2020 9:09:00 PM EAT

Karl Kendrick Chua said : “This is to comply with guidelines and protocols set to contain the spread of Covid-19. It is also essential to increase the utilization of high-yielding and early maturing varieties of crops and adopt disaster-resilient farm technologies and practices in order to ensure stable food supply and prices in the months ahead,” “At the same time, we need to strictly monitor suggested retail prices on basic commodities to protect consumers from overpricing and against unscrupulous sellers and traders,” External link

manilatimes Tuesday, July 7, 2020 9:09:00 PM EAT

Karl Kendrick Chua said : “Workers now need to adapt to the changes in business operations brought about by the pandemic as economic activities resume. Online or blended learning programs will now play a key role in providing opportunities for Filipinos who will require retooling and upskilling,” External link

tribuneonline Wednesday, July 1, 2020 9:09:00 PM EAT

Karl Kendrick Chua added : “It will be a difficult process. While the government itself invests in infrastructure, we also need to have competition policies that will encourage the private sector to help improve the country’s information technology infrastructure. The challenge is how to bring down the cost while increasing the quality of services,” External link

sunstar Thursday, June 25, 2020 7:26:00 AM EAT

Karl Kendrick Chua said : “Let us remember that we made the difficult decision to implement the ECQ because we resolved to save lives and prioritize the health of our fellow Filipinos, including our family and friends,” External link

tribuneonline Saturday, June 6, 2020 6:21:00 PM EAT

Karl Kendrick Chua said : “The economic cost of the quarantines, that buy us time to prepare the health sector to contain the spread of COVID-19, is expectedly large. This is why the government has provided and continues to develop measures to enable our health sector to address the pandemic and to help the people and the economy recover and adapt to a new and hopefully better normal,” External link

elevenmyanmar Saturday, June 6, 2020 6:10:00 AM EAT

Karl Kendrick Chua said : “This decision [to impose a lockdown] is proving to be a prudent one. In the May 2020 survey of the SWS (Social Weather Stations), 84 percent of Filipinos say staying at home to fight Covid-19 is worth it,” “In June, most areas of the country have transitioned to general community quarantine or GCQ and are on track to see the quarantine lifted in the coming weeks,” External link

manilatimes Friday, June 5, 2020 9:33:00 PM EAT

Karl Kendrick Chua said : “A number of reasons explain this. These include the continued implementation of the Rice Tariffication Law, which has brought down the price of rice by around P10 per kilo from the 2018 peak. In fact, rice inflation in May was -2.7 percent,” External link

manilatimes Friday, June 5, 2020 9:33:00 PM EAT

Karl Kendrick Chua said : “Let us remember that we made the difficult decision to implement the ECQ because we resolved to save lives and prioritize the health of our fellow Filipinos, including our family and friends,” External link

tribuneonline Friday, June 5, 2020 7:56:00 PM EAT

Karl Kendrick Chua said : “A number of reasons explain this. These include the continued implementation of the Rice Tariffication Law, which has brought down the price of rice by around P10 per kilo from the 2018 peak. In fact, rice inflation in May was -2.7 percent,” External link

manilatimes Friday, June 5, 2020 6:22:00 PM EAT

Karl Kendrick Chua said : “But so far, given the results that we have seen, it seems like the second quarter will still be hit hard and we can expect the gradual recovery to begin in the third and fourth quarter so that we achieve as low damages as possible for the full year,” External link

pna Friday, June 5, 2020 12:22:00 PM EAT

Karl Kendrick Chua said : “The combination of these factors suggests that there might be a temporary deterioration of poverty but I think given the policies in place, we are on track to still improve our poverty numbers,” External link

pna Friday, June 5, 2020 12:22:00 PM EAT

Karl Kendrick Chua said : “Online shopping and marketing platforms will play a bigger role in the new normal as businesses and consumers increase the use of electronic transactions, including cashless payment systems and other financial technology platforms,” “Businesses need to innovate and make full use of technology to resume operations and later to consumer needs and preferences while still managing risks of COVID-19 (coronavirus disease) infection,” External link

tribuneonline Tuesday, June 2, 2020 2:44:00 PM EAT

Karl Kendrick Chua said : “No country has been spared from the economic effects of this global pandemic, but our strong economic fundamentals and inclusive recovery measures will power our return to growth,” “Thanks to our ample buffers and fiscal space, we can jumpstart domestic demand by investing more in healthcare, infrastructure, and the entire food value chain,” External link

tribuneonline Sunday, May 31, 2020 3:52:00 PM EAT

Karl Kendrick Chua said : “We intend to align [the budget for] the last two years of [the Duterte] administration [in] making the Philippines much stronger to address any shocks in the future,” External link

manilatimes Thursday, May 28, 2020 8:46:00 PM EAT

Karl Kendrick Chua said : “the 2021 GAA will be aligned with our new normal, so that we have a way to continue supporting our people and healthcare system as we transition through this [coronavirus disease 2019] crisis” External link

manilatimes Thursday, May 28, 2020 8:46:00 PM EAT

Karl Kendrick Chua said : “The first thing that we will do is extend the Bayanihan law. It is the easiest and it will allow us the flexibility to respond immediately,” External link

gulf-times Thursday, May 28, 2020 12:23:00 AM EAT

Karl Kendrick Chua said : “But in NEDA, I’ve pushed for the national ID (identification system) further. We are in the process of procuring,” “Once we have this final procurement package, which is a systems integrator bid out, and we have a good proposal, we are going to roll out and register everyone in the coming two years. It’s a fantastic opportunity. If everyone has (an) ID, there’s (a) bank account, everything else will follow,” External link

pna Tuesday, May 26, 2020 4:36:00 PM EAT

Karl Kendrick Chua told : "We can borrow and we have a very good credit rating and we can use that to our advantage and we will continue to do that. However, let’s not forget there are other instruments that have bigger impact," External link

abs-cbnnews Friday, May 22, 2020 11:03:00 AM EAT

Karl Kendrick Chua said : “targeted and time-bound tax incentives [would] support the Balik Probinsya, Bagong Pag-asa program.” External link

inquirer Friday, May 22, 2020 12:44:00 AM EAT

Karl Kendrick Chua said : “The 2020 estimate is now 24.6 million. Of which, 18 million are considered to be low-income or basically working in the informal sector. No work, no pay, that is the basis for the 18 million,” External link

tribuneonline Wednesday, May 20, 2020 7:52:00 PM EAT

Karl Kendrick Chua said : “The 2020 estimate is now 24.6 million. Of which, 18 million are considered to be low-income or basically working in the informal sector. No work, no pay, that is the basis for the 18 million,” External link

tribuneonline Wednesday, May 20, 2020 5:40:00 AM EAT

Karl Kendrick Chua said : “After the initial reduction to 25 percent, it will resume the reduction in 2023 until it reaches 20 percent. So instead of waiting until 2029, the reduction will be much much earlier,” External link

tribuneonline Saturday, May 16, 2020 10:31:00 PM EAT

Karl Kendrick Chua explained : “We are concerned about the plight of the tourism and the airline industry, especially because they were affected as early as January when the Taal volcano erupted and we think there are multiple ways of supporting them,” “To some, liquidity would be the way to help them and so liquidity would be the way to help them. Some have problems beyond liquidity. That is why we have a program to infuse capital,” External link

tribuneonline Saturday, May 16, 2020 10:31:00 PM EAT

Karl Kendrick Chua said : "For new investors, we will actively seek them out and ask them what they would need as incentives to contribute to job creation in the Philippines," External link

abs-cbnnews Friday, May 15, 2020 7:14:00 AM EAT

Karl Kendrick Chua said : “This is the first time that the Department of Finance is proposing to reduce the taxes across the board. Currently, from the 30 percent CIT, we will reduce it immediately to 25 percent,” External link

tribuneonline Thursday, May 14, 2020 10:12:00 PM EAT

Karl Kendrick Chua said : “We will propose [to Congress] the [across-the-board] reduction in corporate income tax from 30 percent to 25 percent immediately, or starting July 2020,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “For existing investors, there is no change in present incentives for the next four to nine years,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “This is where we are right now. But we have the best foundation to recover Our macroeconomic framework has weakened but our fundamentals remain strong,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “We are in a very good position now to take advantage of our credit rating to borrow and use it wisely,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “Containing the spread of the virus and saving hundreds of thousands of lives through the imposition of the ECQ has come at great cost to the Philippine economy.... Even so, our priorities are clear--to protect lives and health of our people,” External link

manilastandardtoday Thursday, May 7, 2020 10:40:00 PM EAT

Karl Kendrick Chua said : “If I compare this to 2009 and 1998, the magnitude of the impact, suggests this small decline is actually respectable. Compared to other countries, we are in a better footing,” External link

tribuneonline Thursday, May 7, 2020 10:34:00 PM EAT

Karl Kendrick Chua said : “Containing the spread of the virus and saving hundreds of thousands of lives through the imposition of the ECQ has come at great cost to the Philippine economy.... Even so, our priorities are clear--to protect lives and health of our people,” External link

thestandard-ph Thursday, May 7, 2020 10:20:00 PM EAT

Karl Kendrick Chua said : “The first quarter, I think, is still respectable given the very difficult environment that we are in. The second quarter might be worse but we are using our policies to proactively manage our trajectory,” External link

aa-en Thursday, May 7, 2020 1:36:00 PM EAT

Karl Kendrick Chua said : "Our economy is showing weaker performance compared to the past two decades," External link

manilametro Thursday, May 7, 2020 9:44:00 AM EAT

Karl Kendrick Chua said : “If I compare this to 2009 and 1998, the magnitude of the impact, suggests this small decline is actually respectable. Compared to other countries, we are in a better footing,” External link

tribuneonline Thursday, May 7, 2020 7:21:00 AM EAT

Karl Kendrick Chua said : "Saving hundreds and thousands of lives has come at a great cost to the Philippine economy... Our priorities are clear: to protect the lives and health of our people," External link

abs-cbnnews Thursday, May 7, 2020 6:25:00 AM EAT

Karl Kendrick Chua said : “Merchandise trade may recover in 2021, but this will depend on how fast we can contain the spread of COVID-19 and mitigate its economic impact through government policies to support affected industries and workers,” “To improve the country’s trade performance, export manufacturers are encouraged to use digital technology and innovative approaches to continue operation and secure new markets. Firms will have to put in place alternative business processes that will become the new standards for engaging with clients, buyers, and suppliers,” External link

manilastandardtoday Wednesday, May 6, 2020 7:06:00 PM EAT

Karl Kendrick Chua said : “We may see increased interest in advanced electronics and software for artificial intelligence, plastic products that serve as barrier for store fronts, and other protective equipment,” External link

manilastandardtoday Wednesday, May 6, 2020 7:06:00 PM EAT

Karl Kendrick Chua said : “economic losses have run up to P700 billion and could swell to P1.1 trillion” External link

tribuneonline Tuesday, May 5, 2020 9:11:00 PM EAT

Karl Kendrick Chua said : “A lot of financing is neededWe have a lot of room for ODA (official development assistance). While we need financing these are not difficult to get,” External link

abs-cbnnews Tuesday, May 5, 2020 7:41:00 AM EAT

Karl Kendrick Chua said : “And the third one is our ECQ in March, so all of these factors are basically affecting the prospects for a very good GDP number,” “We should not be surprised if the numbers are not to our best favor” External link

pna Thursday, April 30, 2020 3:49:00 PM EAT

Karl Kendrick Chua said : "Our solid fiscal position, very good credit ratings and reputation, I think, will give us a very good chance of securing that financing if we needed, from the market and development partners," "We are in a very good position to borrow because our economy is in a very good position and we have track record to pay that," External link

abs-cbnnews Thursday, April 30, 2020 12:18:00 PM EAT

Karl Kendrick Chua said : "Ready po tayo for the entire April and May. Pag lumampas po 'yan sa 2 months, ang gagawin siguro ng economic managers ay i-aassess ulit kung saan po natin pwedeng kumuha ng resources," External link

abs-cbnnews Wednesday, April 29, 2020 1:12:00 PM EAT

Karl Kendrick Chua said : "Dapat maingat tayo, wag tayo mabilis mag-open up. Dapat tingnan natin ang kabuuang kapakanan natin kasi baka magmadali tayo, mabalik naman yan nang mas matindi," External link

abs-cbnnews Wednesday, April 29, 2020 1:12:00 PM EAT

Karl Kendrick Chua said : “Hintayin na lang po natin ang DepEd kung mag -present. Ang IATF ang magsabi kung policy na (Let’s just wait for the DepEd’s presentation. The IATF will decide whether it will become a policy),” External link

pna Friday, April 24, 2020 11:31:00 AM EAT

Karl Kendrick Chua said : “Our tax system really needs to be changed, because there are a lot of problems. It is complicated, unfair and inefficient,” External link

manilatimes Wednesday, April 22, 2020 11:35:00 PM EAT

Karl Kendrick Chua said : “We have savings in the government, because we have been efficient. We also have dividends and excess income from GOCCs,” External link

manilatimes Wednesday, April 22, 2020 11:35:00 PM EAT

Karl Kendrick Chua said : "Ang plano po natin ngayon ay bilisan ang paghahanda natin kasi ngayon nasa enhanced community quarantine tayo pero marami pang pwedeng gawin ang Philippine Statistics Authority," External link

abs-cbnnews Wednesday, April 22, 2020 8:10:00 AM EAT

Karl Kendrick Chua said : “I am telling the NEDA family there should be no movement until the end of May,” External link

tribuneonline Tuesday, April 21, 2020 7:51:00 PM EAT

Karl Kendrick Chua said : "It really depends on the kind of trajectory that we expect on the economy," External link

abs-cbnnews Tuesday, April 21, 2020 6:26:00 PM EAT

Karl Kendrick Chua said : "The reason is I have studied and understood this objectively, so with that you can rest assured that my stint in NEDA will be based on evidence, objective assessment of the trade-offs of any economic decision," External link

abs-cbnnews Tuesday, April 21, 2020 3:30:00 PM EAT

Karl Kendrick Chua said : "Our country is not an exporter so definitely we don't suffer. Actually we benefit from lower oil price...We’re definitely a net beneficiary on this," External link

abs-cbnnews Tuesday, April 21, 2020 1:50:00 PM EAT

Karl Kendrick Chua said : “Apart from the P205 billion that the government is giving to the informal sector, or those with low-income, we are giving P51 billion to the employees of small businesses. We will improve upon the social amelioration program because this plan to give the subsidy is automated, not manual, so (it will be) faster,” External link

bworldcom Wednesday, April 15, 2020 1:00:00 AM EAT

Karl Kendrick Chua said : “The second option for investors is to avail of the regular corporate income tax (CIT) rate with generous enhanced deductions for five to eight years, which may be extended by three or four years at a time for a total duration of 12 years,” External link

pna Wednesday, March 4, 2020 4:37:00 PM EAT

Karl Kendrick Chua added : “The system of having different packages of incentives and processes, as well as autonomous approval points, has created confusion among potential investors and reduced accountability in the grant of tax incentives,” External link

bworldcom Tuesday, February 11, 2020 12:13:00 AM EAT

Karl Kendrick Chua said : “Promoting good governance in granting incentives through an oversight body is not a new idea. Other countries have been doing that for decades now. The Philippines actually tried creating an oversight body two decades ago,” External link

bworldcom Tuesday, February 11, 2020 12:13:00 AM EAT

Karl Kendrick Chua said : “As a good governance institution, the FIRB will promote three principles: transparency, accountability and participation. Following international best practices, the FIRB will ensure that the process in granting incentives is transparent,” External link

tribuneonline Monday, February 10, 2020 11:12:00 PM EAT

Karl Kendrick Chua told : "Instead of taxing them, why don't we encourage them to participate?" External link

abs-cbnnews Wednesday, February 5, 2020 12:03:00 PM EAT

Karl Kendrick Chua said : “This means we are now closer to completing the 2019 estimates, compared to where we were last year when we were trying to reach the 2018 estimates,” “This is definitely welcome news, especially for the infrastructure and human development objectives of TRAIN,” External link

tribuneonline Tuesday, December 24, 2019 12:21:00 AM EAT

Karl Kendrick Chua said : “As you know, one of the most significant provisions of TRAIN was the lowering of the PIT. Losses from its adjustment were originally estimated at P96.4 billion, but actual losses were lower at P79.2 billion, or a savings of P17.2 billion,” “This was a result of better compliance, higher employment rate resulting in an increase of registered taxpayers and lower unemployment and underemployment rates,” External link

tribuneonline Tuesday, December 24, 2019 12:21:00 AM EAT

Karl Kendrick Chua said : “And they say that they are going to invest after the bill is passed. They did not say that they will leave. They just want certainty and that is what we also heard from some others. So, that is the first,” External link

manilatimes Saturday, November 9, 2019 5:26:00 PM EAT

Karl Kendrick Chua said : “I went to Japan, for instance, on invitation of the Philippine embassy to brief them because they received different information. It is good that it was explained to them,” External link

manilatimes Saturday, November 9, 2019 5:26:00 PM EAT

Karl Kendrick Chua explained : “Such a system will allow us to actually prioritize and provide superior incentives to specific industries, areas, and activities for the right reasons, such as the creation of quality jobs, investments in research and development, and expansion in less-developed areas and areas recovering from calamity or armed conflict, among others,” External link

manilatimes Monday, October 7, 2019 9:56:00 PM EAT

Karl Kendrick Chua explained : “I think what is important this we look at the reform as a package, because in the past Congresses, what happened was the government proposed a fiscal incentives rationalization by itself without additional offsetting measures,” External link

manilatimes Wednesday, September 25, 2019 3:18:00 AM EAT

Karl Kendrick Chua said : “It goes to show that the noisy naysayers against the long-due efforts to reform the country’s convoluted corporate income tax system are mistaken,” External link

manilatimes Thursday, September 12, 2019 8:05:00 AM EAT

Karl Kendrick Chua said : “For example, Package 2 allows an additional deduction of up to 50 [%] on direct labor expense. This means that for every job created, companies can deduct up to 150[%] of direct labor expense, compared to just 100[%] in the present regime,” External link

bworldcom Wednesday, August 21, 2019 6:37:00 PM EAT

Karl Kendrick Chua said : “So you see, we are not anti-incentives, and it is not true that we are removing them altogether,” External link

bworldcom Wednesday, August 21, 2019 6:37:00 PM EAT

Karl Kendrick Chua said : “What they approved is a lower rate. What we proposed is P40 per liter (in the first year of implementation),” External link

manilatimes Wednesday, August 14, 2019 10:57:00 PM EAT

Karl Kendrick Chua said : “It is an enrolled bill that was transmitted last June 27 to Malacañang. That means it will lapse into law on July 27. And my understanding is it is ready for signature by the President,” External link

manilastandardtoday Wednesday, July 24, 2019 6:35:00 PM EAT

Karl Kendrick Chua said : “It is an enrolled bill that was transmitted last June 27 to Malacañang, and that means it lapsed into law July 27. And my understanding is it is ready for signature by the President,” External link

pna Wednesday, July 24, 2019 4:40:00 PM EAT

Karl Kendrick Chua said : "These are the possible scenarios: the program will not be able to serve all Filipinos, which means some would get better health benefits, while others would not. Or, to be fair to all, everyone will be covered but the quality of service will be severely affected," External link

abs-cbnnews Sunday, June 2, 2019 6:56:00 PM EAT

Karl Kendrick Chua said ( about Karl Kendrick Chua ) : "Their conclusions are partial and media reports on these papers are misleading because the two papers committed sins of omission. The tax reform has always been a package, and any analysis of the impact of the tax package must look at the entire reform, from the tax rates to the social mitigating measures and earmarked spending on infrastructure and social services, not just selected provisions,” Chua said. He said that on the part of the government, while “tax reform is not a magic bullet to solve all problems, not reforming our tax system would be a greater sin of omission we cannot afford to commit”. Chua was reacting to the papers written by Manasan, who concluded that TRAIN is regressive or has a bigger negative effect on low-income Filipinos; and that of a PIDS team led by Tuaño, who claimed that the excise taxes on coal and petroleum products under TRAIN resulted in a slight increase in poverty incidence. The DOF official said what was puzzling was that Tuano et al acknowledged that there may be dynamic effects of tax reform on output, employment, and welfare as the bulk of TRAIN revenues would be allocated to infrastructure under the “Build Build Build” program, “but these were not included in their analysis. “Why?" External link

pna Friday, May 17, 2019 4:47:00 PM EAT

Karl Kendrick Chua said : “The total difference (between the House-approved version and the DOF-DOH proposal) is P244 billion if computations are done up to 2022. Such a funding gap might undermine the effective implementation of the UHC” External link

thestandard-ph Thursday, May 16, 2019 10:44:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

thestandard-ph Thursday, May 16, 2019 10:44:00 PM EAT

Karl Kendrick Chua said : “The total difference (between the House-approved version and the DOF-DOH proposal) is P244 billion if computations are done up to 2022. Such a funding gap might undermine the effective implementation of the UHC” External link

manilastandardtoday Thursday, May 16, 2019 10:30:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

manilastandardtoday Thursday, May 16, 2019 10:30:00 PM EAT

Karl Kendrick Chua said ( about Bangko Sentral ) : “If inflation is, let’s say, 3.2 percent this year as the Bangko Sentral ng Pilipinas (BSP) projects, then the additional inflation will be 0.1, so 3.3 percent,” External link

pna Monday, March 11, 2019 12:40:00 PM EAT

Karl Kendrick Chua said : “We urge the Senate to support the measures that will achieve the objectives of UHC and ultimately a healthier population,” External link

manilatimes Monday, February 25, 2019 9:11:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

pna Monday, February 25, 2019 2:23:00 PM EAT

Karl Kendrick Chua explained ( about error ) : “The error is defined as actual or observed value minus the forecasted value, as a percentage of the actual value. The smaller the MAPE (mean absolute percentage error), the better the forecasts,” External link

tribuneonline Saturday, February 16, 2019 12:20:00 AM EAT

Karl Kendrick Chua said ( about error ) : “The error is defined as actual or observed value minus the forecasted value, as a percentage of the actual value. The smaller the MAPE, the better the forecasts,” “As with inflation forecasts, we did the assessment to see how well analysts were in forecasting GDP growth. The results, based on published forecasts from 2016 to 2018, show that accuracy, on average, has improved recently,” External link

manilatimes Friday, February 15, 2019 9:56:00 PM EAT

Karl Kendrick Chua said : “I hear and understand your concern on dealing with so many local governments, and the potential rent seeking that might have been happening. So, we are very keen on preserving as much as possible the one-stop-shop [service],” External link

pna Thursday, January 31, 2019 4:55:00 PM EAT

Karl Kendrick Chua said : “Both the House and Senate passed the bill on the abolition of the Road Board, which was in response to our proposals as outlined under Package 1-B of the CTRP. As the Congress already passed this proposal, the DOF's September 20, 2018 letter to the House leadership requesting it to pass the remaining tax packages expectedly does not include the Road Board abolition. The DOF-proposed restructuring of the motor vehicle user charge does include the transfer of the road fund to the general fund,” External link

pna Monday, January 7, 2019 9:06:00 AM EAT

Karl Kendrick Chua said : “The FDA approved only the conversion for Coke, and that was just last August. So I think many are paying P6 when they should be paying P12. That is our concern. I suggest that the BIR conduct an audit (on these companies),” “They cannot just change the content per the FDA,” External link

manilatimes Thursday, January 3, 2019 9:10:00 PM EAT

Karl Kendrick Chua said : “My hunch is that those that are supposed to pay the P12 tax are only paying P6,” External link

manilastandardtoday Thursday, January 3, 2019 3:35:00 PM EAT

Karl Kendrick Chua said : “The FDA approved only the conversion for Coke, and that was just last August. So I think many are paying P6 when they should be paying P12. That is our concern. I suggest that the BIR conduct an audit [on these companies],” “They cannot just change the content per the FDA,” External link

manilastandardtoday Thursday, January 3, 2019 3:35:00 PM EAT

Karl Kendrick Chua said : “We’re not yet precise on the date. But early next year is the target. They have a marker already that they have prepared,” External link

manilastandardtoday Sunday, December 23, 2018 4:37:00 PM EAT

Karl Kendrick Chua said : “This is the biggest social mitigating measure under the tax reform,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “As in the past, the Land Bank [of the Philippines]will lead the cash distribution of the TCTs either through cash cards or authorized conduits,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “The Land Bank and the Department of Social Welfare and Development have substantial experience in the CCT program and can build on these to improve the TCT program,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “This is the biggest social mitigating measure under the tax reform,” “The TCT is a social protection investment” External link

manilastandardtoday Friday, September 8, 2017 3:35:00 PM EAT

Karl Kendrick Chua said : “the amount of cash transfer was calculated to fully offset the moderate but temporary increase in prices faced by the average household in the bottom 50 percent” External link

manilastandardtoday Friday, September 8, 2017 3:35:00 PM EAT

Karl Kendrick Chua pointed out : “If this is a revenue measure, hindi kami papayag. So health measure talaga siya,” External link

manilastandardtoday Monday, August 28, 2017 8:09:00 PM EAT

Karl Kendrick Chua said : “Of the 256 congressmen present during the session, only nine voted no and one abstained. Congresspersons from legislative districts who voted yes represent about 87 percent of the country’s population. Meanwhile, those who voted no represent less than one percent of the population,” External link

manilatimes Friday, July 28, 2017 8:56:00 PM EAT

Karl Kendrick Chua said ( about House ) : “Support for the bill among the representatives in the House, geographically speaking, is widespread,” External link

manilatimes Friday, July 28, 2017 8:56:00 PM EAT

Karl Kendrick Chua said : “These revenue-enhancing measures primarily targets rich consumers and taxpayers so the government can still raise enough money for its unprecedented massive public investment program under the Duterte administration,” External link

manilastandardtoday Thursday, February 23, 2017 12:25:00 AM EAT

Karl Kendrick Chua said : “Thus, under the tax reform bill, the call center agent’s take home pay will effectively increase by P21,867 annually because he would no longer have to pay this amount of income tax under the current system,” External link

manilastandardtoday Thursday, February 23, 2017 12:25:00 AM EAT

Karl Kendrick Chua said : “These revenue-enhancing measures primarily targets rich consumers and taxpayers so the government can still raise enough money for its unprecedented massive public investment program under the Duterte administration,” External link

manilastandardtoday Wednesday, February 22, 2017 6:58:00 PM EAT

Karl Kendrick Chua said : “Gusto namin simpler, fairer and more efficient ang tax system natin,” External link

abs-cbnnews Friday, January 27, 2017 12:34:00 PM EAT

Karl Kendrick Chua said : "Under the House tax plan, there will be no indexation for the year if the average Dubai crude oil price in the month preceding the scheduled indexation exceeds US $100 per barrel," External link

irishsun Monday, January 23, 2017 1:36:00 AM EAT

Karl Kendrick Chua said : “We have to bear in mind that this is still a moderate oil price regime at $50 per barrel, compared to the peak of over a hundred five years ago,” External link

manilatimes Wednesday, January 18, 2017 8:41:00 PM EAT

Karl Kendrick Chua added : “Tax administration, which includes improvements in both the BIR and BOC is equally important and is in fact the priority for 2017 before the tax policy reforms are fully implemented in 2018,” External link

manilatimes Wednesday, January 18, 2017 8:41:00 PM EAT

Karl Kendrick Chua said : “Also, the economy was growing, resulting in higher incomes for many Filipinos. All these mean that the increase in fuel excise is manageable and minimal,” External link

manilatimes Friday, January 13, 2017 9:20:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

manilatimes Friday, January 13, 2017 9:20:00 PM EAT

Karl Kendrick Chua said : “For example, the jeep modernization program can potentially reduce fuel consumption by P350 pesos (or a 50 percent improvement) while the Pantawid Pasada can keep any fare increase to a minimum. With higher take-home pay due to lower income taxes under the tax reform program and the cash transfer to the poor and vulnerable, the effects of the slight increase in fares can be lessened further,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “However, food inflation increased by only 3.6 percent and overall consumer prices by just 2.6 percent. This is because the economy is well managed and people are benefiting from growth in the form of higher income and wages. With stronger government effort to improve agriculture productivity and build more infrastructure, inflation can even be managed better,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “But tax administration reforms are not enough to raise adequate funds to bankroll the Duterte administration’s agenda of high and inclusive growth, given the inherent flaws in the country’s tax system that require urgent correction, such as the non-indexation of tax rates to inflation,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : “These proposed initiatives will cushion the impact of higher fuel excises on transportation, commuting and food costs for the poorest 50 percent,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : "But tax administration reforms are not enough to raise adequate funds to bankroll the Duterte administration’s agenda of high and inclusive growth, given the inherent flaws in the country’s tax system that require urgent correction, such as the non-indexation of tax rates to inflation," External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : "These rates, which have not been corrected to account for inflation, has led to a massive foregone revenue loss of about P145 billion (in 2016 prices), which represents over one percent of the GDP," External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” “Taxpayers will also get a relief from the impact of the fuel excise adjustments because of the lower PIT rates that the DOF is proposing under its CTRP (Comprehensive Tax Reform Program), which will more than offset the slightly higher transport, food and commuting costs,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “These proposed initiatives will cushion the impact of higher fuel excises on transportation, commuting, and food costs for the poorest 50 percent,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “With higher revenues from the oil excise tax reform, we can fund the massive public infrastructure program that is needed to reduce traffic congestion, improve connectivity, and raise the economic productivity of Filipinos, especially those living in the countryside,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “And finally, our bank secrecy law. We are one of only three countries in the world wherein there’s no way to open bank accounts except when you give your consent or when you die. So there’s no way to audit. That is the reason why we are not able to recover (from a low revenue collection rate),” External link

manilatimes Tuesday, December 13, 2016 9:27:00 PM EAT

Karl Kendrick Chua said : “Under the proposal, the tax brackets for the manufacturing price or import price can be indexed to inflation once every two years if the US dollar exchange rate [movement]is more than 10 percent. If the movement in the exchange rate is more than 20 percent, then the full movement of the exchange rate will be the basis for the indexation,” External link

manilatimes Sunday, December 4, 2016 7:37:00 PM EAT

Karl Kendrick Chua said : “Under the proposal, the tax brackets for the manufacturing price or import price can be indexed to inflation once every two years if the US dollar exchange rate is more than 10 percent. If the movement in the exchange rate is more than 20 percent, then the full movement of the exchange rate will be the basis for the indexation,” External link

manilatimes Wednesday, November 30, 2016 10:28:00 PM EAT

Karl Kendrick Chua said : “We recognize that the tax reform will affect a number of vulnerable people. We are very much committed to protecting the poor, vulnerable, and low income sectors. The poorer the household is, the more social protection subsidies it will get especially during the first year of the Tax Reform Package One implementation,” External link

manilatimes Wednesday, November 23, 2016 9:19:00 PM EAT

Karl Kendrick Chua said : “we will see higher incomes for 99 percent of the Filipino people even with the increase in excise taxes,” External link

manilatimes Wednesday, November 23, 2016 9:19:00 PM EAT

Karl Kendrick Chua added : “We propose to do a highly-targeted subsidy reform program wherein… the poorest 50 percent of households will be fully protected through a highly-targeted unconditional cash transfer in the initial year, and that means around P200 to P500 per month or up to P6,000 over a year, and this is calibrated based on the possible increase in inflation and the impact of the higher oil [tax increase]on their lives,” External link

manilatimes Sunday, November 13, 2016 2:25:00 PM EAT

Karl Kendrick Chua said : "We are proposing to submit it once we have consulted significantly the experts on how to properly do this taxation," External link

abs-cbnnews Friday, November 4, 2016 12:41:00 PM EAT

Karl Kendrick Chua said : "Rather than being anti-poor, the tax reform plan will actually correct the injustice of only a few enjoying the benefits of growth," External link

abs-cbnnews Tuesday, November 1, 2016 1:00:00 PM EAT

Karl Kendrick Chua noted : “This includes non-seniors who benefit from the seniors’ VAT exemption,” External link

manilatimes Thursday, October 13, 2016 8:45:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages which are very rampant in our estimate,” External link

manilatimes Thursday, October 13, 2016 8:45:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages, which is very rampant in our estimate. The World Bank estimated [close to] P10 billion in leakage in the senior citizen [VAT] discounts,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua said : “This includes non-seniors who benefit from the seniors’ VAT exemption,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua added : “The estimated nominal growth of consumption is around 35 percent between 2012 and 2016, thus the 2016 estimated leakage is around P6.6 billion to P9.6 billion,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages which is very rampant in our estimate,” External link

abs-cbnnews Thursday, October 13, 2016 1:32:00 PM EAT

Karl Kendrick Chua said : "The reality is even with the sin tax, our excise burden for the cigarettes is still one of the lowest in the world and also in the region. The World bank and international organizations typically, they want to see the excise to be at least half of the retail price," External link

abs-cbnnews Thursday, September 29, 2016 11:06:00 AM EAT

Karl Kendrick Chua added : “This is to bring us to the level where our neighbors have experienced when they were growing to become upper middle income country and to eradicate poverty,” External link

manilatimes Tuesday, September 20, 2016 8:35:00 PM EAT

Karl Kendrick Chua said : "Since 1997 up to today, we have been losing on average 1 percent of GDP, close to P120 billion a year," External link

gmanews Friday, January 30, 2015 9:04:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
secretary5.00%EN01/18/201718/01/2017
finance secretary2.50%EN01/18/201718/01/2017
economist52.50%EN11/01/201601/11/2016
senior economist37.50%EN06/23/201623/06/2016
senior economist for the philippines2.50%EN04/08/201408/04/2014
Names Lang Count
Karl Kendrick ChuaEN100.00%


 
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Harry Roque said ( about Karl Kendrick Chua ) : “I think the three-month period is ideal although what Secretary Karl Chua suggested is not too far away from the three-month period because we are already in June. July, August, September three months until September. You have another three months until December,” “But the important thing is if Congress gives us three months, 90 days, they will still be in session when the emergency power ceases because they are still in session in September and they can give the extraordinary, the emergency powers anew if they wish to, and if Malacanang would request,” External link

gulf-times Thursday, May 28, 2020 12:23:00 AM EAT

Michael Romero said ( about Karl Kendrick Chua ) : “We want a much more functional national ID and system like what Singapore is using to distribute payment or aid to many workers. Despite inherent data limitations of the National ID System or PhilSys, I suggest to acting SocioEconomic Planning Secretary Karl Kendrick Chua that he direct the Philippine Statistics Authority to start mass registration within 60 days or not later than June 30,” External link

manilastandardtoday Friday, April 24, 2020 10:08:00 PM EAT

Michael Romero said ( about Karl Kendrick Chua ) : “When Acting NEDA (National Economic and Development Authority) Secretary Karl Kendrick Chua goes into the details of the National ID, I am sure he will discover that it has serious data limitations,” “To be partly useful for qualifying beneficiaries as it is designed now in RA (Republic Act) 11055, the National ID still has to be used in combination with other databases,” External link

pna Thursday, April 23, 2020 2:33:00 PM EAT

Harry Roque said ( about Karl Kendrick Chua ) : “Ano po ang mandato ni Presidente kay Secretary Chua? Unang-una, ipatupad sa lalong mabilis na panahon ang national ID system (What is the President’s order to Secretary Chua? First and foremost, ensure the speedy implementation of national ID system),” External link

pna Tuesday, April 21, 2020 9:32:00 AM EAT

Karl Kendrick Chua said ( about Karl Kendrick Chua ) : "Their conclusions are partial and media reports on these papers are misleading because the two papers committed sins of omission. The tax reform has always been a package, and any analysis of the impact of the tax package must look at the entire reform, from the tax rates to the social mitigating measures and earmarked spending on infrastructure and social services, not just selected provisions,” Chua said. He said that on the part of the government, while “tax reform is not a magic bullet to solve all problems, not reforming our tax system would be a greater sin of omission we cannot afford to commit”. Chua was reacting to the papers written by Manasan, who concluded that TRAIN is regressive or has a bigger negative effect on low-income Filipinos; and that of a PIDS team led by Tuaño, who claimed that the excise taxes on coal and petroleum products under TRAIN resulted in a slight increase in poverty incidence. The DOF official said what was puzzling was that Tuano et al acknowledged that there may be dynamic effects of tax reform on output, employment, and welfare as the bulk of TRAIN revenues would be allocated to infrastructure under the “Build Build Build” program, “but these were not included in their analysis. “Why?" External link

pna Friday, May 17, 2019 4:47:00 PM EAT

AfricaBrief

Karl Kendrick Chua

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Karl Kendrick Chua noted : “As we continuously implement varying levels of community quarantines and localized lockdowns in the country, we need the government and the private sector to tap local agricultural produce and maximize the use of digital technologies to ensure stability in the supply chain,” External link

tribuneonline Friday, September 18, 2020 8:18:00 PM EAT

Karl Kendrick Chua said : “Investments in cold storage facilities and innovations in food packaging and processing need to be increased as well, alongside the boosting of agricultural production, both in rural and urban areas, through the government’s ‘Plant, Plant, Plant program,’” External link

tribuneonline Friday, September 18, 2020 8:18:00 PM EAT

Karl Kendrick Chua noted : “While manufacturing is not yet in the positive territory, the trends of the volume and value of production in the last three months indicate an improvement in the trajectory of economic activity. This momentum suggests a gradual recovery of demand in the coming months until the end of the year,” External link

tribuneonline Saturday, September 5, 2020 10:40:00 PM EAT

Karl Kendrick Chua added : “Sustaining the gradual and calibrated opening of the economy largely depends on the level of community quarantine that would allow businesses to operate and permit workers to remain mobile. To make this possible, safe and a sufficient availability of public transportation can be supported by service contract subsidies if needed,” External link

tribuneonline Saturday, September 5, 2020 10:40:00 PM EAT

Karl Kendrick Chua noted : “As we continuously implement varying levels of community quarantines and localized lockdowns in the country, we need the government and the private sector to tap local agricultural produce and maximize the use of digital technologies to ensure stability in the supply chain,” External link

tribuneonline Friday, September 4, 2020 7:32:00 PM EAT

Karl Kendrick Chua said : “Investments in cold storage facilities and innovations in food packaging and processing need to be increased as well, alongside the boosting of agricultural production, both in rural and urban areas, through the government’s ‘Plant, Plant, Plant program,’” External link

tribuneonline Friday, September 4, 2020 7:32:00 PM EAT

Karl Kendrick Chua said : "This momentum suggests a gradual recovery of demand in the coming months until the end of the year," External link

xinhuanet_en Friday, September 4, 2020 10:16:00 AM EAT

Karl Kendrick Chua added : "Sustaining the gradual and calibrated opening of the economy largely depends on the level of community quarantine that would allow businesses to operate and permit workers to remain mobile," External link

xinhuanet_en Friday, September 4, 2020 10:16:00 AM EAT

Karl Kendrick Chua explained : “Although this is expected to weigh down on the economy in the short term as resumption of business operations is limited, this will give our health system some respite amid the recent rise in COVID-19 cases,” “It will also help improve productivity in the near-term as more lives are saved and consumer confidence restored,” External link

tribuneonline Tuesday, September 1, 2020 10:41:00 PM EAT

Karl Kendrick Chua said : “These will enable us to provide more support to the people and will also help cover budget priorities in 2020 and 2021 to help address the health crisis,” External link

manilatimes Tuesday, September 1, 2020 6:04:00 PM EAT

Karl Kendrick Chua said : “The recent loan portfolio performance showed improvements the past two years. For 2019, all indicators of absorptive capacity improved,” External link

tribuneonline Monday, August 31, 2020 10:22:00 PM EAT

Karl Kendrick Chua said : “The recent loan portfolio performance showed improvements for the past two years. For 2019, all indicators of absorptive capacity improved. We are grateful to our development partners for supporting us in our efforts to pursue much-needed reforms towards a higher growth trajectory and improving the quality of life of all Filipino people,” External link

manilastandardtoday Monday, August 31, 2020 4:18:00 PM EAT

Karl Kendrick Chua said : “We are optimistic the Bayanihan 2 will help the country bounce back from the crisis with its improved provisions on the healthcare system, public transport and restoring consumer demand,” External link

tribuneonline Tuesday, August 25, 2020 10:18:00 PM EAT

Karl Kendrick Chua said : “Moving forward, we are optimistic that the Bayanihan 2 will help the country bounce back from the crisis with its improved provisions on the healthcare system, public transport, and restoring consumer demand,” External link

abs-cbnnews Tuesday, August 25, 2020 7:30:00 AM EAT

Karl Kendrick Chua remarked : “Our country is facing the biggest crisis in nearly eight decades” External link

bworldcom Thursday, August 13, 2020 7:48:00 PM EAT

Karl Kendrick Chua said : “the government will focus on rebalancing its priorities from saving lives from just the Covid-19 virus to saving lives from Covid-19 and other factors, such as hunger and other diseases” External link

phnompenhpost Monday, August 10, 2020 6:48:00 AM EAT

Karl Kendrick Chua said : “As we build a healthier and more resilient Philippines, there are three areas to focus on: expanding economic opportunities, improving the capability of Filipinos to adapt under the new normal, and ensuring people-centered, clean, technology-enabled and responsive governance amid the pandemic,” External link

manilatimes Monday, August 10, 2020 4:46:00 AM EAT

Karl Kendrick Chua said : "Bumalik po tayo sa mga 50 percent, medyo bumaba po. It will have an impact on economic growth. Pero ang mahalaga dito kung hindi natin tutugunan ang kulang pa sa health care system and response, this problem will prolong itself," External link

abs-cbnnews Friday, August 7, 2020 10:20:00 AM EAT

Karl Kendrick Chua said : “A month of lockdown in the second quarter because of the ECQ affected us by almost P1.5 trillion,” External link

tribuneonline Thursday, August 6, 2020 10:36:00 PM EAT

Karl Kendrick Chua said : “We are not only concerned about the immediate GDP or economic activity. We have to balance that with the near-term GDP. In other words, we will have to be dancing with the virus. When the virus escalates or surge, we will have to respond appropriately,” External link

tribuneonline Thursday, August 6, 2020 10:36:00 PM EAT

Karl Kendrick Chua explained : “The priority was clearly to save lives from COVID-19,” “This decision is worth the lives saved” External link

thestandard-ph Thursday, August 6, 2020 9:25:00 PM EAT

Karl Kendrick Chua explained : “The priority was clearly to save lives from COVID-19,” “This decision is worth the lives saved” External link

manilastandardtoday Thursday, August 6, 2020 8:12:00 PM EAT

Karl Kendrick Chua said : “Although we expect that the overall consumer prices will remain benign until 2021, we recognize that the upside risks to inflation outlook still remain,” External link

tribuneonline Thursday, August 6, 2020 1:06:00 PM EAT

Karl Kendrick Chua said : “Although this [decision] is expected to weigh on the economy in the short term, as [the] resumption of business operations is limited, this will give our health system some respite amid the recent rise in Covid-19 cases,” “It will also help improve productivity in the near term, as more lives are saved and consumer confidence restored,” External link

manilatimes Thursday, August 6, 2020 9:28:00 AM EAT

Karl Kendrick Chua said : “As [Southeast Asian] countries account for more than 15 percent of the country’s total exports, the contraction in these countries’ GDP (gross domestic product) would need to be closely watched as [a] further drop in their economies could affect trade flows and may reverse the improvements in trade observed during the period,” External link

manilatimes Wednesday, August 5, 2020 9:12:00 PM EAT

Karl Kendrick Chua noted : “the country’s total merchandise trade registered a slower decline of 38.7 percent in May 2020 after a steep 59.5-percent decline in April 2020” External link

manilatimes Saturday, July 11, 2020 8:27:00 PM EAT

Karl Kendrick Chua said : “Export of manufactured goods, which accounts for almost 80 percent of total exports, is seen to gradually recover as the latest results of the Purchasing Managers’ Index for the Philippines rose from 40.1 in May to 49.7 in June,” “The Semiconductors and Electronics Industries in the Philippines Inc. also indicated a gradual pickup in semiconductors exports in the coming months and projected flat growth in 2020, notwithstanding the ongoing lockdown in Cebu, where some of the electronics firms are located,” External link

manilatimes Saturday, July 11, 2020 8:27:00 PM EAT

Karl Kendrick Chua noted : “the country’s total merchandise trade registered a slower decline of 38.7 percent in May 2020 after a steep 59.5-percent decline in April 2020” External link

manilatimes Friday, July 10, 2020 7:54:00 PM EAT

Karl Kendrick Chua said : “Export of manufactured goods, which accounts for almost 80 percent of total exports, is seen to gradually recover as the latest results of the Purchasing Managers’ Index for the Philippines rose from 40.1 in May to 49.7 in June,” “The Semiconductors and Electronics Industries in the Philippines Inc. also indicated a gradual pickup in semiconductors exports in the coming months and projected flat growth in 2020, notwithstanding the ongoing lockdown in Cebu, where some of the electronics firms are located,” External link

manilatimes Friday, July 10, 2020 7:54:00 PM EAT

Karl Kendrick Chua said : “As more firms reopen, we need to remind everyone that the risk of Covid-19 infection remains. It is very important for firms to strictly comply with minimum health standards to mitigate risks in the workplace. We need to make sure that our workers’ health is not compromised and that we are able to contain the spread of the virus,” “The whole-of-government, led by NEDA, is currently reviewing strategies and policies in the Philippine Development Plan 2020-2022. A number of strategies need to be scaled up and fast-tracked, particularly as they relate to technology and innovation. These will help firms and society, in general, become better prepared against future disruptions,” External link

manilatimes Wednesday, July 8, 2020 6:36:00 AM EAT

Karl Kendrick Chua said ( about Supply Chain ) : “Digital technologies, such as eKADIWA, a digital marketing platform, the Supply Chain Analytics (SCAn) Dashboard and the SCAn Reporter, are important government platforms to address potential supply bottlenecks and ensure ample and unhampered supply of commodities while many regions are still on various forms of community quarantine,” External link

manilatimes Tuesday, July 7, 2020 9:09:00 PM EAT

Karl Kendrick Chua said : “This is to comply with guidelines and protocols set to contain the spread of Covid-19. It is also essential to increase the utilization of high-yielding and early maturing varieties of crops and adopt disaster-resilient farm technologies and practices in order to ensure stable food supply and prices in the months ahead,” “At the same time, we need to strictly monitor suggested retail prices on basic commodities to protect consumers from overpricing and against unscrupulous sellers and traders,” External link

manilatimes Tuesday, July 7, 2020 9:09:00 PM EAT

Karl Kendrick Chua said : “Workers now need to adapt to the changes in business operations brought about by the pandemic as economic activities resume. Online or blended learning programs will now play a key role in providing opportunities for Filipinos who will require retooling and upskilling,” External link

tribuneonline Wednesday, July 1, 2020 9:09:00 PM EAT

Karl Kendrick Chua added : “It will be a difficult process. While the government itself invests in infrastructure, we also need to have competition policies that will encourage the private sector to help improve the country’s information technology infrastructure. The challenge is how to bring down the cost while increasing the quality of services,” External link

sunstar Thursday, June 25, 2020 7:26:00 AM EAT

Karl Kendrick Chua said : “Let us remember that we made the difficult decision to implement the ECQ because we resolved to save lives and prioritize the health of our fellow Filipinos, including our family and friends,” External link

tribuneonline Saturday, June 6, 2020 6:21:00 PM EAT

Karl Kendrick Chua said : “The economic cost of the quarantines, that buy us time to prepare the health sector to contain the spread of COVID-19, is expectedly large. This is why the government has provided and continues to develop measures to enable our health sector to address the pandemic and to help the people and the economy recover and adapt to a new and hopefully better normal,” External link

elevenmyanmar Saturday, June 6, 2020 6:10:00 AM EAT

Karl Kendrick Chua said : “This decision [to impose a lockdown] is proving to be a prudent one. In the May 2020 survey of the SWS (Social Weather Stations), 84 percent of Filipinos say staying at home to fight Covid-19 is worth it,” “In June, most areas of the country have transitioned to general community quarantine or GCQ and are on track to see the quarantine lifted in the coming weeks,” External link

manilatimes Friday, June 5, 2020 9:33:00 PM EAT

Karl Kendrick Chua said : “A number of reasons explain this. These include the continued implementation of the Rice Tariffication Law, which has brought down the price of rice by around P10 per kilo from the 2018 peak. In fact, rice inflation in May was -2.7 percent,” External link

manilatimes Friday, June 5, 2020 9:33:00 PM EAT

Karl Kendrick Chua said : “Let us remember that we made the difficult decision to implement the ECQ because we resolved to save lives and prioritize the health of our fellow Filipinos, including our family and friends,” External link

tribuneonline Friday, June 5, 2020 7:56:00 PM EAT

Karl Kendrick Chua said : “A number of reasons explain this. These include the continued implementation of the Rice Tariffication Law, which has brought down the price of rice by around P10 per kilo from the 2018 peak. In fact, rice inflation in May was -2.7 percent,” External link

manilatimes Friday, June 5, 2020 6:22:00 PM EAT

Karl Kendrick Chua said : “But so far, given the results that we have seen, it seems like the second quarter will still be hit hard and we can expect the gradual recovery to begin in the third and fourth quarter so that we achieve as low damages as possible for the full year,” External link

pna Friday, June 5, 2020 12:22:00 PM EAT

Karl Kendrick Chua said : “The combination of these factors suggests that there might be a temporary deterioration of poverty but I think given the policies in place, we are on track to still improve our poverty numbers,” External link

pna Friday, June 5, 2020 12:22:00 PM EAT

Karl Kendrick Chua said : “Online shopping and marketing platforms will play a bigger role in the new normal as businesses and consumers increase the use of electronic transactions, including cashless payment systems and other financial technology platforms,” “Businesses need to innovate and make full use of technology to resume operations and later to consumer needs and preferences while still managing risks of COVID-19 (coronavirus disease) infection,” External link

tribuneonline Tuesday, June 2, 2020 2:44:00 PM EAT

Karl Kendrick Chua said : “No country has been spared from the economic effects of this global pandemic, but our strong economic fundamentals and inclusive recovery measures will power our return to growth,” “Thanks to our ample buffers and fiscal space, we can jumpstart domestic demand by investing more in healthcare, infrastructure, and the entire food value chain,” External link

tribuneonline Sunday, May 31, 2020 3:52:00 PM EAT

Karl Kendrick Chua said : “We intend to align [the budget for] the last two years of [the Duterte] administration [in] making the Philippines much stronger to address any shocks in the future,” External link

manilatimes Thursday, May 28, 2020 8:46:00 PM EAT

Karl Kendrick Chua said : “the 2021 GAA will be aligned with our new normal, so that we have a way to continue supporting our people and healthcare system as we transition through this [coronavirus disease 2019] crisis” External link

manilatimes Thursday, May 28, 2020 8:46:00 PM EAT

Karl Kendrick Chua said : “The first thing that we will do is extend the Bayanihan law. It is the easiest and it will allow us the flexibility to respond immediately,” External link

gulf-times Thursday, May 28, 2020 12:23:00 AM EAT

Karl Kendrick Chua said : “But in NEDA, I’ve pushed for the national ID (identification system) further. We are in the process of procuring,” “Once we have this final procurement package, which is a systems integrator bid out, and we have a good proposal, we are going to roll out and register everyone in the coming two years. It’s a fantastic opportunity. If everyone has (an) ID, there’s (a) bank account, everything else will follow,” External link

pna Tuesday, May 26, 2020 4:36:00 PM EAT

Karl Kendrick Chua told : "We can borrow and we have a very good credit rating and we can use that to our advantage and we will continue to do that. However, let’s not forget there are other instruments that have bigger impact," External link

abs-cbnnews Friday, May 22, 2020 11:03:00 AM EAT

Karl Kendrick Chua said : “targeted and time-bound tax incentives [would] support the Balik Probinsya, Bagong Pag-asa program.” External link

inquirer Friday, May 22, 2020 12:44:00 AM EAT

Karl Kendrick Chua said : “The 2020 estimate is now 24.6 million. Of which, 18 million are considered to be low-income or basically working in the informal sector. No work, no pay, that is the basis for the 18 million,” External link

tribuneonline Wednesday, May 20, 2020 7:52:00 PM EAT

Karl Kendrick Chua said : “The 2020 estimate is now 24.6 million. Of which, 18 million are considered to be low-income or basically working in the informal sector. No work, no pay, that is the basis for the 18 million,” External link

tribuneonline Wednesday, May 20, 2020 5:40:00 AM EAT

Karl Kendrick Chua said : “After the initial reduction to 25 percent, it will resume the reduction in 2023 until it reaches 20 percent. So instead of waiting until 2029, the reduction will be much much earlier,” External link

tribuneonline Saturday, May 16, 2020 10:31:00 PM EAT

Karl Kendrick Chua explained : “We are concerned about the plight of the tourism and the airline industry, especially because they were affected as early as January when the Taal volcano erupted and we think there are multiple ways of supporting them,” “To some, liquidity would be the way to help them and so liquidity would be the way to help them. Some have problems beyond liquidity. That is why we have a program to infuse capital,” External link

tribuneonline Saturday, May 16, 2020 10:31:00 PM EAT

Karl Kendrick Chua said : "For new investors, we will actively seek them out and ask them what they would need as incentives to contribute to job creation in the Philippines," External link

abs-cbnnews Friday, May 15, 2020 7:14:00 AM EAT

Karl Kendrick Chua said : “This is the first time that the Department of Finance is proposing to reduce the taxes across the board. Currently, from the 30 percent CIT, we will reduce it immediately to 25 percent,” External link

tribuneonline Thursday, May 14, 2020 10:12:00 PM EAT

Karl Kendrick Chua said : “We will propose [to Congress] the [across-the-board] reduction in corporate income tax from 30 percent to 25 percent immediately, or starting July 2020,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “For existing investors, there is no change in present incentives for the next four to nine years,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “This is where we are right now. But we have the best foundation to recover Our macroeconomic framework has weakened but our fundamentals remain strong,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “We are in a very good position now to take advantage of our credit rating to borrow and use it wisely,” External link

manilastandardtoday Thursday, May 14, 2020 4:57:00 PM EAT

Karl Kendrick Chua said : “Containing the spread of the virus and saving hundreds of thousands of lives through the imposition of the ECQ has come at great cost to the Philippine economy.... Even so, our priorities are clear--to protect lives and health of our people,” External link

manilastandardtoday Thursday, May 7, 2020 10:40:00 PM EAT

Karl Kendrick Chua said : “If I compare this to 2009 and 1998, the magnitude of the impact, suggests this small decline is actually respectable. Compared to other countries, we are in a better footing,” External link

tribuneonline Thursday, May 7, 2020 10:34:00 PM EAT

Karl Kendrick Chua said : “Containing the spread of the virus and saving hundreds of thousands of lives through the imposition of the ECQ has come at great cost to the Philippine economy.... Even so, our priorities are clear--to protect lives and health of our people,” External link

thestandard-ph Thursday, May 7, 2020 10:20:00 PM EAT

Karl Kendrick Chua said : “The first quarter, I think, is still respectable given the very difficult environment that we are in. The second quarter might be worse but we are using our policies to proactively manage our trajectory,” External link

aa-en Thursday, May 7, 2020 1:36:00 PM EAT

Karl Kendrick Chua said : "Our economy is showing weaker performance compared to the past two decades," External link

manilametro Thursday, May 7, 2020 9:44:00 AM EAT

Karl Kendrick Chua said : “If I compare this to 2009 and 1998, the magnitude of the impact, suggests this small decline is actually respectable. Compared to other countries, we are in a better footing,” External link

tribuneonline Thursday, May 7, 2020 7:21:00 AM EAT

Karl Kendrick Chua said : "Saving hundreds and thousands of lives has come at a great cost to the Philippine economy... Our priorities are clear: to protect the lives and health of our people," External link

abs-cbnnews Thursday, May 7, 2020 6:25:00 AM EAT

Karl Kendrick Chua said : “Merchandise trade may recover in 2021, but this will depend on how fast we can contain the spread of COVID-19 and mitigate its economic impact through government policies to support affected industries and workers,” “To improve the country’s trade performance, export manufacturers are encouraged to use digital technology and innovative approaches to continue operation and secure new markets. Firms will have to put in place alternative business processes that will become the new standards for engaging with clients, buyers, and suppliers,” External link

manilastandardtoday Wednesday, May 6, 2020 7:06:00 PM EAT

Karl Kendrick Chua said : “We may see increased interest in advanced electronics and software for artificial intelligence, plastic products that serve as barrier for store fronts, and other protective equipment,” External link

manilastandardtoday Wednesday, May 6, 2020 7:06:00 PM EAT

Karl Kendrick Chua said : “economic losses have run up to P700 billion and could swell to P1.1 trillion” External link

tribuneonline Tuesday, May 5, 2020 9:11:00 PM EAT

Karl Kendrick Chua said : “A lot of financing is neededWe have a lot of room for ODA (official development assistance). While we need financing these are not difficult to get,” External link

abs-cbnnews Tuesday, May 5, 2020 7:41:00 AM EAT

Karl Kendrick Chua said : “And the third one is our ECQ in March, so all of these factors are basically affecting the prospects for a very good GDP number,” “We should not be surprised if the numbers are not to our best favor” External link

pna Thursday, April 30, 2020 3:49:00 PM EAT

Karl Kendrick Chua said : "Our solid fiscal position, very good credit ratings and reputation, I think, will give us a very good chance of securing that financing if we needed, from the market and development partners," "We are in a very good position to borrow because our economy is in a very good position and we have track record to pay that," External link

abs-cbnnews Thursday, April 30, 2020 12:18:00 PM EAT

Karl Kendrick Chua said : "Ready po tayo for the entire April and May. Pag lumampas po 'yan sa 2 months, ang gagawin siguro ng economic managers ay i-aassess ulit kung saan po natin pwedeng kumuha ng resources," External link

abs-cbnnews Wednesday, April 29, 2020 1:12:00 PM EAT

Karl Kendrick Chua said : "Dapat maingat tayo, wag tayo mabilis mag-open up. Dapat tingnan natin ang kabuuang kapakanan natin kasi baka magmadali tayo, mabalik naman yan nang mas matindi," External link

abs-cbnnews Wednesday, April 29, 2020 1:12:00 PM EAT

Karl Kendrick Chua said : “Hintayin na lang po natin ang DepEd kung mag -present. Ang IATF ang magsabi kung policy na (Let’s just wait for the DepEd’s presentation. The IATF will decide whether it will become a policy),” External link

pna Friday, April 24, 2020 11:31:00 AM EAT

Karl Kendrick Chua said : “Our tax system really needs to be changed, because there are a lot of problems. It is complicated, unfair and inefficient,” External link

manilatimes Wednesday, April 22, 2020 11:35:00 PM EAT

Karl Kendrick Chua said : “We have savings in the government, because we have been efficient. We also have dividends and excess income from GOCCs,” External link

manilatimes Wednesday, April 22, 2020 11:35:00 PM EAT

Karl Kendrick Chua said : "Ang plano po natin ngayon ay bilisan ang paghahanda natin kasi ngayon nasa enhanced community quarantine tayo pero marami pang pwedeng gawin ang Philippine Statistics Authority," External link

abs-cbnnews Wednesday, April 22, 2020 8:10:00 AM EAT

Karl Kendrick Chua said : “I am telling the NEDA family there should be no movement until the end of May,” External link

tribuneonline Tuesday, April 21, 2020 7:51:00 PM EAT

Karl Kendrick Chua said : "It really depends on the kind of trajectory that we expect on the economy," External link

abs-cbnnews Tuesday, April 21, 2020 6:26:00 PM EAT

Karl Kendrick Chua said : "The reason is I have studied and understood this objectively, so with that you can rest assured that my stint in NEDA will be based on evidence, objective assessment of the trade-offs of any economic decision," External link

abs-cbnnews Tuesday, April 21, 2020 3:30:00 PM EAT

Karl Kendrick Chua said : "Our country is not an exporter so definitely we don't suffer. Actually we benefit from lower oil price...We’re definitely a net beneficiary on this," External link

abs-cbnnews Tuesday, April 21, 2020 1:50:00 PM EAT

Karl Kendrick Chua said : “Apart from the P205 billion that the government is giving to the informal sector, or those with low-income, we are giving P51 billion to the employees of small businesses. We will improve upon the social amelioration program because this plan to give the subsidy is automated, not manual, so (it will be) faster,” External link

bworldcom Wednesday, April 15, 2020 1:00:00 AM EAT

Karl Kendrick Chua said : “The second option for investors is to avail of the regular corporate income tax (CIT) rate with generous enhanced deductions for five to eight years, which may be extended by three or four years at a time for a total duration of 12 years,” External link

pna Wednesday, March 4, 2020 4:37:00 PM EAT

Karl Kendrick Chua added : “The system of having different packages of incentives and processes, as well as autonomous approval points, has created confusion among potential investors and reduced accountability in the grant of tax incentives,” External link

bworldcom Tuesday, February 11, 2020 12:13:00 AM EAT

Karl Kendrick Chua said : “Promoting good governance in granting incentives through an oversight body is not a new idea. Other countries have been doing that for decades now. The Philippines actually tried creating an oversight body two decades ago,” External link

bworldcom Tuesday, February 11, 2020 12:13:00 AM EAT

Karl Kendrick Chua said : “As a good governance institution, the FIRB will promote three principles: transparency, accountability and participation. Following international best practices, the FIRB will ensure that the process in granting incentives is transparent,” External link

tribuneonline Monday, February 10, 2020 11:12:00 PM EAT

Karl Kendrick Chua told : "Instead of taxing them, why don't we encourage them to participate?" External link

abs-cbnnews Wednesday, February 5, 2020 12:03:00 PM EAT

Karl Kendrick Chua said : “This means we are now closer to completing the 2019 estimates, compared to where we were last year when we were trying to reach the 2018 estimates,” “This is definitely welcome news, especially for the infrastructure and human development objectives of TRAIN,” External link

tribuneonline Tuesday, December 24, 2019 12:21:00 AM EAT

Karl Kendrick Chua said : “As you know, one of the most significant provisions of TRAIN was the lowering of the PIT. Losses from its adjustment were originally estimated at P96.4 billion, but actual losses were lower at P79.2 billion, or a savings of P17.2 billion,” “This was a result of better compliance, higher employment rate resulting in an increase of registered taxpayers and lower unemployment and underemployment rates,” External link

tribuneonline Tuesday, December 24, 2019 12:21:00 AM EAT

Karl Kendrick Chua said : “And they say that they are going to invest after the bill is passed. They did not say that they will leave. They just want certainty and that is what we also heard from some others. So, that is the first,” External link

manilatimes Saturday, November 9, 2019 5:26:00 PM EAT

Karl Kendrick Chua said : “I went to Japan, for instance, on invitation of the Philippine embassy to brief them because they received different information. It is good that it was explained to them,” External link

manilatimes Saturday, November 9, 2019 5:26:00 PM EAT

Karl Kendrick Chua explained : “Such a system will allow us to actually prioritize and provide superior incentives to specific industries, areas, and activities for the right reasons, such as the creation of quality jobs, investments in research and development, and expansion in less-developed areas and areas recovering from calamity or armed conflict, among others,” External link

manilatimes Monday, October 7, 2019 9:56:00 PM EAT

Karl Kendrick Chua explained : “I think what is important this we look at the reform as a package, because in the past Congresses, what happened was the government proposed a fiscal incentives rationalization by itself without additional offsetting measures,” External link

manilatimes Wednesday, September 25, 2019 3:18:00 AM EAT

Karl Kendrick Chua said : “It goes to show that the noisy naysayers against the long-due efforts to reform the country’s convoluted corporate income tax system are mistaken,” External link

manilatimes Thursday, September 12, 2019 8:05:00 AM EAT

Karl Kendrick Chua said : “For example, Package 2 allows an additional deduction of up to 50 [%] on direct labor expense. This means that for every job created, companies can deduct up to 150[%] of direct labor expense, compared to just 100[%] in the present regime,” External link

bworldcom Wednesday, August 21, 2019 6:37:00 PM EAT

Karl Kendrick Chua said : “So you see, we are not anti-incentives, and it is not true that we are removing them altogether,” External link

bworldcom Wednesday, August 21, 2019 6:37:00 PM EAT

Karl Kendrick Chua said : “What they approved is a lower rate. What we proposed is P40 per liter (in the first year of implementation),” External link

manilatimes Wednesday, August 14, 2019 10:57:00 PM EAT

Karl Kendrick Chua said : “It is an enrolled bill that was transmitted last June 27 to Malacañang. That means it will lapse into law on July 27. And my understanding is it is ready for signature by the President,” External link

manilastandardtoday Wednesday, July 24, 2019 6:35:00 PM EAT

Karl Kendrick Chua said : “It is an enrolled bill that was transmitted last June 27 to Malacañang, and that means it lapsed into law July 27. And my understanding is it is ready for signature by the President,” External link

pna Wednesday, July 24, 2019 4:40:00 PM EAT

Karl Kendrick Chua said : "These are the possible scenarios: the program will not be able to serve all Filipinos, which means some would get better health benefits, while others would not. Or, to be fair to all, everyone will be covered but the quality of service will be severely affected," External link

abs-cbnnews Sunday, June 2, 2019 6:56:00 PM EAT

Karl Kendrick Chua said ( about Karl Kendrick Chua ) : "Their conclusions are partial and media reports on these papers are misleading because the two papers committed sins of omission. The tax reform has always been a package, and any analysis of the impact of the tax package must look at the entire reform, from the tax rates to the social mitigating measures and earmarked spending on infrastructure and social services, not just selected provisions,” Chua said. He said that on the part of the government, while “tax reform is not a magic bullet to solve all problems, not reforming our tax system would be a greater sin of omission we cannot afford to commit”. Chua was reacting to the papers written by Manasan, who concluded that TRAIN is regressive or has a bigger negative effect on low-income Filipinos; and that of a PIDS team led by Tuaño, who claimed that the excise taxes on coal and petroleum products under TRAIN resulted in a slight increase in poverty incidence. The DOF official said what was puzzling was that Tuano et al acknowledged that there may be dynamic effects of tax reform on output, employment, and welfare as the bulk of TRAIN revenues would be allocated to infrastructure under the “Build Build Build” program, “but these were not included in their analysis. “Why?" External link

pna Friday, May 17, 2019 4:47:00 PM EAT

Karl Kendrick Chua said : “The total difference (between the House-approved version and the DOF-DOH proposal) is P244 billion if computations are done up to 2022. Such a funding gap might undermine the effective implementation of the UHC” External link

thestandard-ph Thursday, May 16, 2019 10:44:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

thestandard-ph Thursday, May 16, 2019 10:44:00 PM EAT

Karl Kendrick Chua said : “The total difference (between the House-approved version and the DOF-DOH proposal) is P244 billion if computations are done up to 2022. Such a funding gap might undermine the effective implementation of the UHC” External link

manilastandardtoday Thursday, May 16, 2019 10:30:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

manilastandardtoday Thursday, May 16, 2019 10:30:00 PM EAT

Karl Kendrick Chua said ( about Bangko Sentral ) : “If inflation is, let’s say, 3.2 percent this year as the Bangko Sentral ng Pilipinas (BSP) projects, then the additional inflation will be 0.1, so 3.3 percent,” External link

pna Monday, March 11, 2019 12:40:00 PM EAT

Karl Kendrick Chua said : “We urge the Senate to support the measures that will achieve the objectives of UHC and ultimately a healthier population,” External link

manilatimes Monday, February 25, 2019 9:11:00 PM EAT

Karl Kendrick Chua said : “the youth, the poor and other price-sensitive cigarette users to stop smoking,” External link

pna Monday, February 25, 2019 2:23:00 PM EAT

Karl Kendrick Chua explained ( about error ) : “The error is defined as actual or observed value minus the forecasted value, as a percentage of the actual value. The smaller the MAPE (mean absolute percentage error), the better the forecasts,” External link

tribuneonline Saturday, February 16, 2019 12:20:00 AM EAT

Karl Kendrick Chua said ( about error ) : “The error is defined as actual or observed value minus the forecasted value, as a percentage of the actual value. The smaller the MAPE, the better the forecasts,” “As with inflation forecasts, we did the assessment to see how well analysts were in forecasting GDP growth. The results, based on published forecasts from 2016 to 2018, show that accuracy, on average, has improved recently,” External link

manilatimes Friday, February 15, 2019 9:56:00 PM EAT

Karl Kendrick Chua said : “I hear and understand your concern on dealing with so many local governments, and the potential rent seeking that might have been happening. So, we are very keen on preserving as much as possible the one-stop-shop [service],” External link

pna Thursday, January 31, 2019 4:55:00 PM EAT

Karl Kendrick Chua said : “Both the House and Senate passed the bill on the abolition of the Road Board, which was in response to our proposals as outlined under Package 1-B of the CTRP. As the Congress already passed this proposal, the DOF's September 20, 2018 letter to the House leadership requesting it to pass the remaining tax packages expectedly does not include the Road Board abolition. The DOF-proposed restructuring of the motor vehicle user charge does include the transfer of the road fund to the general fund,” External link

pna Monday, January 7, 2019 9:06:00 AM EAT

Karl Kendrick Chua said : “The FDA approved only the conversion for Coke, and that was just last August. So I think many are paying P6 when they should be paying P12. That is our concern. I suggest that the BIR conduct an audit (on these companies),” “They cannot just change the content per the FDA,” External link

manilatimes Thursday, January 3, 2019 9:10:00 PM EAT

Karl Kendrick Chua said : “My hunch is that those that are supposed to pay the P12 tax are only paying P6,” External link

manilastandardtoday Thursday, January 3, 2019 3:35:00 PM EAT

Karl Kendrick Chua said : “The FDA approved only the conversion for Coke, and that was just last August. So I think many are paying P6 when they should be paying P12. That is our concern. I suggest that the BIR conduct an audit [on these companies],” “They cannot just change the content per the FDA,” External link

manilastandardtoday Thursday, January 3, 2019 3:35:00 PM EAT

Karl Kendrick Chua said : “We’re not yet precise on the date. But early next year is the target. They have a marker already that they have prepared,” External link

manilastandardtoday Sunday, December 23, 2018 4:37:00 PM EAT

Karl Kendrick Chua said : “This is the biggest social mitigating measure under the tax reform,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “As in the past, the Land Bank [of the Philippines]will lead the cash distribution of the TCTs either through cash cards or authorized conduits,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “The Land Bank and the Department of Social Welfare and Development have substantial experience in the CCT program and can build on these to improve the TCT program,” External link

manilatimes Friday, September 8, 2017 9:29:00 PM EAT

Karl Kendrick Chua said : “This is the biggest social mitigating measure under the tax reform,” “The TCT is a social protection investment” External link

manilastandardtoday Friday, September 8, 2017 3:35:00 PM EAT

Karl Kendrick Chua said : “the amount of cash transfer was calculated to fully offset the moderate but temporary increase in prices faced by the average household in the bottom 50 percent” External link

manilastandardtoday Friday, September 8, 2017 3:35:00 PM EAT

Karl Kendrick Chua pointed out : “If this is a revenue measure, hindi kami papayag. So health measure talaga siya,” External link

manilastandardtoday Monday, August 28, 2017 8:09:00 PM EAT

Karl Kendrick Chua said : “Of the 256 congressmen present during the session, only nine voted no and one abstained. Congresspersons from legislative districts who voted yes represent about 87 percent of the country’s population. Meanwhile, those who voted no represent less than one percent of the population,” External link

manilatimes Friday, July 28, 2017 8:56:00 PM EAT

Karl Kendrick Chua said ( about House ) : “Support for the bill among the representatives in the House, geographically speaking, is widespread,” External link

manilatimes Friday, July 28, 2017 8:56:00 PM EAT

Karl Kendrick Chua said : “These revenue-enhancing measures primarily targets rich consumers and taxpayers so the government can still raise enough money for its unprecedented massive public investment program under the Duterte administration,” External link

manilastandardtoday Thursday, February 23, 2017 12:25:00 AM EAT

Karl Kendrick Chua said : “Thus, under the tax reform bill, the call center agent’s take home pay will effectively increase by P21,867 annually because he would no longer have to pay this amount of income tax under the current system,” External link

manilastandardtoday Thursday, February 23, 2017 12:25:00 AM EAT

Karl Kendrick Chua said : “These revenue-enhancing measures primarily targets rich consumers and taxpayers so the government can still raise enough money for its unprecedented massive public investment program under the Duterte administration,” External link

manilastandardtoday Wednesday, February 22, 2017 6:58:00 PM EAT

Karl Kendrick Chua said : “Gusto namin simpler, fairer and more efficient ang tax system natin,” External link

abs-cbnnews Friday, January 27, 2017 12:34:00 PM EAT

Karl Kendrick Chua said : "Under the House tax plan, there will be no indexation for the year if the average Dubai crude oil price in the month preceding the scheduled indexation exceeds US $100 per barrel," External link

irishsun Monday, January 23, 2017 1:36:00 AM EAT

Karl Kendrick Chua said : “We have to bear in mind that this is still a moderate oil price regime at $50 per barrel, compared to the peak of over a hundred five years ago,” External link

manilatimes Wednesday, January 18, 2017 8:41:00 PM EAT

Karl Kendrick Chua added : “Tax administration, which includes improvements in both the BIR and BOC is equally important and is in fact the priority for 2017 before the tax policy reforms are fully implemented in 2018,” External link

manilatimes Wednesday, January 18, 2017 8:41:00 PM EAT

Karl Kendrick Chua said : “Also, the economy was growing, resulting in higher incomes for many Filipinos. All these mean that the increase in fuel excise is manageable and minimal,” External link

manilatimes Friday, January 13, 2017 9:20:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

manilatimes Friday, January 13, 2017 9:20:00 PM EAT

Karl Kendrick Chua said : “For example, the jeep modernization program can potentially reduce fuel consumption by P350 pesos (or a 50 percent improvement) while the Pantawid Pasada can keep any fare increase to a minimum. With higher take-home pay due to lower income taxes under the tax reform program and the cash transfer to the poor and vulnerable, the effects of the slight increase in fares can be lessened further,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “However, food inflation increased by only 3.6 percent and overall consumer prices by just 2.6 percent. This is because the economy is well managed and people are benefiting from growth in the form of higher income and wages. With stronger government effort to improve agriculture productivity and build more infrastructure, inflation can even be managed better,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

sunstar Friday, January 13, 2017 3:49:00 PM EAT

Karl Kendrick Chua said : “But tax administration reforms are not enough to raise adequate funds to bankroll the Duterte administration’s agenda of high and inclusive growth, given the inherent flaws in the country’s tax system that require urgent correction, such as the non-indexation of tax rates to inflation,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : “These proposed initiatives will cushion the impact of higher fuel excises on transportation, commuting and food costs for the poorest 50 percent,” External link

manilatimes Wednesday, January 11, 2017 8:11:00 PM EAT

Karl Kendrick Chua said : "But tax administration reforms are not enough to raise adequate funds to bankroll the Duterte administration’s agenda of high and inclusive growth, given the inherent flaws in the country’s tax system that require urgent correction, such as the non-indexation of tax rates to inflation," External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : "These rates, which have not been corrected to account for inflation, has led to a massive foregone revenue loss of about P145 billion (in 2016 prices), which represents over one percent of the GDP," External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “Our proposal to adjust the fuel excise tax to around P6 per liter merely updates the rates to current levels as this represents the cumulative inflation since 1997. Even with the adjustments, the retail prices of gasoline and diesel will still be much lower than the rates during the oil price shocks of 2011 and 2012,” “Taxpayers will also get a relief from the impact of the fuel excise adjustments because of the lower PIT rates that the DOF is proposing under its CTRP (Comprehensive Tax Reform Program), which will more than offset the slightly higher transport, food and commuting costs,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “These proposed initiatives will cushion the impact of higher fuel excises on transportation, commuting, and food costs for the poorest 50 percent,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “With higher revenues from the oil excise tax reform, we can fund the massive public infrastructure program that is needed to reduce traffic congestion, improve connectivity, and raise the economic productivity of Filipinos, especially those living in the countryside,” External link

sunstar Wednesday, January 11, 2017 2:58:00 PM EAT

Karl Kendrick Chua said : “And finally, our bank secrecy law. We are one of only three countries in the world wherein there’s no way to open bank accounts except when you give your consent or when you die. So there’s no way to audit. That is the reason why we are not able to recover (from a low revenue collection rate),” External link

manilatimes Tuesday, December 13, 2016 9:27:00 PM EAT

Karl Kendrick Chua said : “Under the proposal, the tax brackets for the manufacturing price or import price can be indexed to inflation once every two years if the US dollar exchange rate [movement]is more than 10 percent. If the movement in the exchange rate is more than 20 percent, then the full movement of the exchange rate will be the basis for the indexation,” External link

manilatimes Sunday, December 4, 2016 7:37:00 PM EAT

Karl Kendrick Chua said : “Under the proposal, the tax brackets for the manufacturing price or import price can be indexed to inflation once every two years if the US dollar exchange rate is more than 10 percent. If the movement in the exchange rate is more than 20 percent, then the full movement of the exchange rate will be the basis for the indexation,” External link

manilatimes Wednesday, November 30, 2016 10:28:00 PM EAT

Karl Kendrick Chua said : “We recognize that the tax reform will affect a number of vulnerable people. We are very much committed to protecting the poor, vulnerable, and low income sectors. The poorer the household is, the more social protection subsidies it will get especially during the first year of the Tax Reform Package One implementation,” External link

manilatimes Wednesday, November 23, 2016 9:19:00 PM EAT

Karl Kendrick Chua said : “we will see higher incomes for 99 percent of the Filipino people even with the increase in excise taxes,” External link

manilatimes Wednesday, November 23, 2016 9:19:00 PM EAT

Karl Kendrick Chua added : “We propose to do a highly-targeted subsidy reform program wherein… the poorest 50 percent of households will be fully protected through a highly-targeted unconditional cash transfer in the initial year, and that means around P200 to P500 per month or up to P6,000 over a year, and this is calibrated based on the possible increase in inflation and the impact of the higher oil [tax increase]on their lives,” External link

manilatimes Sunday, November 13, 2016 2:25:00 PM EAT

Karl Kendrick Chua said : "We are proposing to submit it once we have consulted significantly the experts on how to properly do this taxation," External link

abs-cbnnews Friday, November 4, 2016 12:41:00 PM EAT

Karl Kendrick Chua said : "Rather than being anti-poor, the tax reform plan will actually correct the injustice of only a few enjoying the benefits of growth," External link

abs-cbnnews Tuesday, November 1, 2016 1:00:00 PM EAT

Karl Kendrick Chua noted : “This includes non-seniors who benefit from the seniors’ VAT exemption,” External link

manilatimes Thursday, October 13, 2016 8:45:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages which are very rampant in our estimate,” External link

manilatimes Thursday, October 13, 2016 8:45:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages, which is very rampant in our estimate. The World Bank estimated [close to] P10 billion in leakage in the senior citizen [VAT] discounts,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua said : “This includes non-seniors who benefit from the seniors’ VAT exemption,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua added : “The estimated nominal growth of consumption is around 35 percent between 2012 and 2016, thus the 2016 estimated leakage is around P6.6 billion to P9.6 billion,” External link

sunstar Thursday, October 13, 2016 3:18:00 PM EAT

Karl Kendrick Chua said : “We are proposing to really target the benefits only to the poor and the vulnerable, so that we avoid the leakages which is very rampant in our estimate,” External link

abs-cbnnews Thursday, October 13, 2016 1:32:00 PM EAT

Karl Kendrick Chua said : "The reality is even with the sin tax, our excise burden for the cigarettes is still one of the lowest in the world and also in the region. The World bank and international organizations typically, they want to see the excise to be at least half of the retail price," External link

abs-cbnnews Thursday, September 29, 2016 11:06:00 AM EAT

Karl Kendrick Chua added : “This is to bring us to the level where our neighbors have experienced when they were growing to become upper middle income country and to eradicate poverty,” External link

manilatimes Tuesday, September 20, 2016 8:35:00 PM EAT

Karl Kendrick Chua said : "Since 1997 up to today, we have been losing on average 1 percent of GDP, close to P120 billion a year," External link

gmanews Friday, January 30, 2015 9:04:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
secretary5.00%EN01/18/201718/01/2017
finance secretary2.50%EN01/18/201718/01/2017
economist52.50%EN11/01/201601/11/2016
senior economist37.50%EN06/23/201623/06/2016
senior economist for the philippines2.50%EN04/08/201408/04/2014
Names Lang Count
Karl Kendrick ChuaEN100.00%


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Friday, September 25, 2020

10:24:00 AM EAT


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Harry Roque said ( about Karl Kendrick Chua ) : “I think the three-month period is ideal although what Secretary Karl Chua suggested is not too far away from the three-month period because we are already in June. July, August, September three months until September. You have another three months until December,” “But the important thing is if Congress gives us three months, 90 days, they will still be in session when the emergency power ceases because they are still in session in September and they can give the extraordinary, the emergency powers anew if they wish to, and if Malacanang would request,” External link

gulf-times Thursday, May 28, 2020 12:23:00 AM EAT

Michael Romero said ( about Karl Kendrick Chua ) : “We want a much more functional national ID and system like what Singapore is using to distribute payment or aid to many workers. Despite inherent data limitations of the National ID System or PhilSys, I suggest to acting SocioEconomic Planning Secretary Karl Kendrick Chua that he direct the Philippine Statistics Authority to start mass registration within 60 days or not later than June 30,” External link

manilastandardtoday Friday, April 24, 2020 10:08:00 PM EAT

Michael Romero said ( about Karl Kendrick Chua ) : “When Acting NEDA (National Economic and Development Authority) Secretary Karl Kendrick Chua goes into the details of the National ID, I am sure he will discover that it has serious data limitations,” “To be partly useful for qualifying beneficiaries as it is designed now in RA (Republic Act) 11055, the National ID still has to be used in combination with other databases,” External link

pna Thursday, April 23, 2020 2:33:00 PM EAT

Harry Roque said ( about Karl Kendrick Chua ) : “Ano po ang mandato ni Presidente kay Secretary Chua? Unang-una, ipatupad sa lalong mabilis na panahon ang national ID system (What is the President’s order to Secretary Chua? First and foremost, ensure the speedy implementation of national ID system),” External link

pna Tuesday, April 21, 2020 9:32:00 AM EAT

Karl Kendrick Chua said ( about Karl Kendrick Chua ) : "Their conclusions are partial and media reports on these papers are misleading because the two papers committed sins of omission. The tax reform has always been a package, and any analysis of the impact of the tax package must look at the entire reform, from the tax rates to the social mitigating measures and earmarked spending on infrastructure and social services, not just selected provisions,” Chua said. He said that on the part of the government, while “tax reform is not a magic bullet to solve all problems, not reforming our tax system would be a greater sin of omission we cannot afford to commit”. Chua was reacting to the papers written by Manasan, who concluded that TRAIN is regressive or has a bigger negative effect on low-income Filipinos; and that of a PIDS team led by Tuaño, who claimed that the excise taxes on coal and petroleum products under TRAIN resulted in a slight increase in poverty incidence. The DOF official said what was puzzling was that Tuano et al acknowledged that there may be dynamic effects of tax reform on output, employment, and welfare as the bulk of TRAIN revenues would be allocated to infrastructure under the “Build Build Build” program, “but these were not included in their analysis. “Why?" External link

pna Friday, May 17, 2019 4:47:00 PM EAT