Senate inquiry into proposed Landbank-DBP merger

Senator Win Gatchalian wants an inquiry into the proposed merger between the Landbank of the Philippines (Landbank) and the Development Bank of the Philippines (DBP) which is likely to be finalized by the middle of 2024.   “There is a need for the Senate to weigh in on whether the merger of these two government […]

Declare National MSME Week to gather support for small business owners

Senator Win Gatchalian wants to legislate the declaration of a “National Micro, Small, and Medium-Enterprise (MSME) Week” from June 27 to July 2 every year in a bid to generate much-needed support for small business owners.   Senate Bill No. 949, filed by Gatchalian, seeks to recognize the indispensable role of MSMEs in nation-building, encourage […]

VAT refund measure for non-resident tourists should provide seamless experience

Senator Win Gatchalian said the proposed value-added tax (VAT) refund measure for non-resident tourists should provide a seamless experience to ensure that its objective of attracting more tourists is realized.   “Customer experience is very important and what we want is a seamless experience when non-resident tourists claim the refund at the airport,” Gatchalian said. […]

Heirs to have another chance to avail of estate tax amnesty program

Senator Win Gatchalian said heirs will have another chance to avail of the government’s estate tax amnesty program as the Senate approved on the third and final reading a proposed measure that would extend by 2 years the period of availment and simplify the process of the tax relief.   Gatchalian, chairperson of the Senate […]

Installment payment in estate tax amnesty extension

Senator Win Gatchalian wants to include a provision allowing an installment payment feature in the proposed measure extending estate tax amnesty in the hope that this would encourage more taxpayers to avail of the tax reprieve.   Such provision stemmed from comments made by Tax Management Association of the Philippines President Atty. Suzette Celicious-Sy during […]

To banks: Law penalizes those who refuse to accept National ID

Senator Win Gatchalian called on the Bangko Sentral ng Pilipinas (BSP) to remind banks that Republic Act 11055 or the Philippine Identification System Act compels them to accept the national ID as sufficient proof of identity for financial transactions and any bank that refuses to recognize it will be fined P500,000.   Gatchalian made the […]

More Filipinos should become financially adept for their future

Senator Win Gatchalian wants more Filipinos to become financially adept for their future by having savings and insurance accounts that they could tap into during times of emergencies and other unexpected financial difficulties.   Finding as “alarming” the results of the 2021 Financial Inclusion Survey conducted by the Bangko Sentral ng Pilipinas (BSP), Gatchalian filed […]

LGUs’ automatic income classification to improve public services

Senator Win Gatchalian is proposing a legislation that would institutionalize automatic income classification of local government units (LGUs) to improve public services.   The automatic income classification of LGUs shall serve, among other purposes, as the basis for the determination of administrative and financial aids to local governments, the determination of the financial capability of […]

DICT should provide platform for poor LGUs to automate operations

Senator Win Gatchalian wants the Department of Information and Communications Technology (DICT) to provide the necessary platform for marginalized local government units (LGUs) to automate their respective operations including tax administration.   According to Gatchalian it is important that all LGUs, particularly those belonging to the lower income class levels, have the necessary technology tools […]