Duterte Wants to Tax Idle Land

February 7, 2017 Taxation in Philippines

idle land PhilippinesMANILLA – The President of the Philippines wants to push land developers to either use their properties or face paying a hefty tax.

On February 6th the President of the Philippines Rodrigo Duterte announced that he intends to see greater levels of taxation on “idle land” in the country.

Idle land is property which is intentionally left undeveloped by its owner, in the hopes that the value of the property will rise at a greater rate than the potential profits to be drawn from development work.

The President did not specify how much he will raise taxes, but did say “…I will tax idle lands heavily. If it hasn’t been developed for 10 to 20 years, I will double its real estate tax or triple unless you are willing to lend it to somebody or to the barangay for the people to use it.”

It was also said that the idle lands throughout the country should also be converted to productive agricultural lands, with the newly produced foods being used to feed no only the people of the Philippines, but to also boost the levels of exports to other countries throughout Asia.