tt'-Deono

DoF, BsP present unified front

on removal of banksecrecy
THE lifl ing ot ba-nJr secrecy is expected
to gen: vi-ncing the lgth Congress to allow
erale additiona.l government revenue the remova.l neslies wilhout sa-feguards against untmthful
of p76.6 of bank secrecy in tax amnes ty cases.
billioq directly or indirectly, over t}le declarations oI asseLs or net worth.
next five Mr. Dominguez said he direcled Undersec_ and called
years. as economic managers tor the "breaking down (oI the) walls
promised to lob_ retary Gil S. Beltran to inform Congress of bank
by Congress to make a wealening
of account that secrecy' to prevent any abuse of the
lhe Depafiment ofFinance fDoF) amnesty
protections a feature oltax amnes and Bangko progran.
ty legi sla lion. Senkal ngpilipinas (BSp) have ajoint position
lnancqjFecretary Carlos G. Dominguez The unvetoed provisions cover amnesty
ll,,,r
t said the removal ofbank secrecyin
or1 the matter. _
estate taxes and tax delinquencies,
for
laxam- which are
nesty cases is ..crucial
and indispensable.. Ior . He warned that the governmenl
lose around pSB
could €x,pected generate p6,28 billion a\d p21.26
upcomrng legislation. after president biliion in indirect revenue billion in additjonal revenue. respectively.
R. Duterte vetoed provisions of the
Rodrigo if tax amnesties are granted without giving
],ax Am_ 'Make sure that the general amnesty
the government the power to inspect , liftin_g-of and
nestyAct. or Republic Act u213. bank the the bank secrecy (has to go)
in February. accounts.
Mr. Dominguez said Bangko Sentral l.ogether,- Mr. Dominguez told Mr.
Cover_ In iis v€to message in February, Mr. Beltran
nor Benjamin E. Diokno will join
him in con_ _
Duterte said
during a recent DoF Executive Committee
he did not want to grant tax am_ (Execom) meeting.
- Beatrice M. Laforga

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