Digital tax, infrastructure spending among Philippine President Marcos’ plans for 8% growth

Philippine President Ferdinand Marcos Jr. delivers his first State of the Nation Address, in Quezon City, Metro Manila, Philippines, July 25, 2022. - Reuters

MANILA, July 26 (Bloomberg): Philippine President Ferdinand Marcos Jr. pushed to tax digital services, pledged to sustain robust spending on infrastructure and vowed never to enforce another lockdown to hit an 8% growth during his term.

"Our tax system will be adjusted in order to catch up with the rapid development of the digital economy,” Marcos said in his first speech before Congress on Monday, laying down his legislative agenda that includes a continuing tax reform, changes to energy and infrastructure-enabling laws, and streamlining government operations.