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Philippines reviewing exemptions to sales tax, aims to expand base

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The Philippines is reviewing exemptions to a 12 per cent sales tax and is aiming to expand the tax base, finance secretary Carlos Dominguez said on Tuesday.

[MANILA] The Philippines is reviewing exemptions to a 12 per cent sales tax and is aiming to expand the tax base, finance secretary Carlos Dominguez said on Tuesday.

Mr Dominguez also said the government would stick to the current 80-20 ratio borrowing mix in favour of domestic loans.

The finance secretary and other economic ministers are holding a media briefing after setting the government's economic targets. Rodrigo Duterte was sworn in as the country's 16th president on June 30.

REUTERS