Manila: Malaca±ang announced on Thursday that the government will conduct a careful study of the proposal by Senator Erwin Tulfo to implement a one-month tax holiday aimed at boosting public confidence and alleviating the financial burden on Filipinos amidst ongoing corruption investigations.

According to Philippines News Agency, Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Secretary Frederick Go emphasized that the proposal requires a thorough review by the Department of Finance (DOF) and the Department of Budget and Management (DBM) before any decision is reached. Go highlighted the novelty of the proposal, stating that it must be meticulously evaluated by the pertinent departments.

Senator Tulfo proposed suspending tax collections for a month, suggesting that such a move could enhance public morale and stimulate consumer spending in light of concerns over alleged corruption in flood control projects. However, Go refrained from expressing agreement with the senator's rationale, emphasizing the necessity of a comprehensive analysis before forming an opinion.

Go deferred the matter to the DOF and the DBM, underscoring the importance of a well-informed decision-making process. He also reiterated the Marcos administration's commitment to maintaining fiscal discipline while implementing reforms to enhance the competitiveness of the business environment.

The Palace official highlighted ongoing governmental programs such as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, the Public-Private Partnership (PPP) Code, and Green Lanes for Strategic Investments. These initiatives are geared toward attracting investors and sustaining economic growth, ensuring that reforms remain credible to both local and international investors.