Fiscal (Tax) Policy Wishlist

Income tax. Maintain as progressive as mandated by the Constitution using the bracket and exemptions system. The minimum personal income tax should still be at 5% but the maximum should be lowered to 25% to increase compliance of professionals. The brackets should be adjusted to match the inflation rate and should be automatically readjusted every 3 years to minimize income erosion. The corporate income tax should match the highest personal income tax rate at 25% to be competitive with other Asean states. The personal exemptions should be adjusted based on the cost of living.

On UNCLOS, EEZ, and the PCA Ruling

We cannot demand the Chinese out of our exclusive economic zone (EEZ).

EEZ Delimitation in SouthEast Asia

Malaysia and Brunei had their overlapping exclusive economic zones (EEZs) delimited through a bilateral agreement in 2009. The Philippines and Indonesia had our overlapping EEZs delimited through a bilateral agreement in 2014. The Philippines and Malaysia should have our overlapping EEZs delimited through a bilateral agreement. The Philippines, Indonesia and Brunei should join and cooperate in the submission of Vietnam and Malaysia for extended continental shelf (ECS) in the South China Sea. The application for ECS, if granted, should be delimited equidistantly from the five ASEAN states' EEZs. These should be done notwithstanding our claim on northeast Sabah to strengthen our position that UNCLOS and the tribunal ruling is not about sovereignty and to show unity among coastal ASEAN states. Vietnam should also file a case to the Permanent Court of Arbitration regarding the status of islands and features of Paracel to clarify if any is entitled to an EEZ.

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