RECTO, RALPH "KORECTO" G.: SLB Profile

Date of Birth: January 11, 1964
Place of Birth: Quezon City

EDUCATIONAL BACKGROUND:

College: BS Commerce - De La Salle University, 1987
Higher Studies: MA Public Administration - UP Diliman, 1991
MBA Strategic Business Economics – UA&P, 1994

TRACK RECORD:

2001- present Senator, Philippine Senate

1992- 2001 Representative, 4th district, Batangas, House of Representatives

1995-1999 Member of the board, SANIKLEEN

1994- present Company president, Taking Care of Business Corp.

PLATFORM:

Economy, Countryside Development

ATTENDANCE*

	Total Sessions	Present	Absent	Mission
13th Congress
First Session	95	89	0	6
Second Session	85	64	3	18
12th Congress
First Session	83	76	2	5
Second Session	92	80	8	4
11th Congress
First Session	88	37	28	4

* There were days that roll call was dispensed with; M=official mission/business

Expenditures
Commission on Audit Report covering January 1 to December 31, 2002
Salary	P420,000.00
Senator’s Travel
Local	P274,400.00
Foreign	P440,250.40
Staff’s Travel
Local	P976,751.00
Foreign	0
Salaries and Benefits of Staff	P6,537,944.00
Meetings and Conferences	P878,656.00
Professional or Consultancy Fee	0
Supplies of Materials	P446,800.00
Rental of Office Space and Equipment	0
Extraordinary and Miscellaneous Expenses	P376,997.00
Other Maintenance and Operating Expenses	P2,078,546.42
Capital Outlay	0
Total	P12,430,344.82

CAMPAIGN SPENDING:

Period Covered: 12 February to 18 May 2001
Total contributions from political party organizations:	P1,000,000.00
Total contributions from other persons:	P27,000,000.00
Total contributions:	P28,000,000.00
Total expenditures paid by candidate out of personal funds:	P3,609,775.26
Total expenditures paid out of contributions received:	P28,000,000.00
Total expenditures:	P31,609,775.26

REPUBLIC ACTS AUTHORED:

In his three terms (from 1992 to 2001) as Member of the House of Representatives, most of his legislative measures which were enacted into law dealt with economic reforms and poverty alleviation, among which are the Special Economic Zone Law (RA 7916); the Comprehensive Tax Reform Law (RA 8424); Social Reform and Poverty Alleviation Act (RA 8425); Amendments to the Special Economic Zone Law (RA 8748); Regional Headquarters Law (RA 8756); Retail Trade Liberalization Law (RA 8762).

During the 13th Congress the following legislations were enacted:

RA 9337 (R-EVAT) - This law is part of the bigger effort to address the country's budget deficit The need to increase our tax collection to sustain the government's delivery of basic services while reducing, government expenditures, Value-Added Tax replaced the more burdensome and cascading sales tax. It is a tax on consumption levied on the sale of goods and services and on the imports of goods into the Philippines. (February 1,
2006)
RA 9335 (LATERAL ATTRITION) - The law provides for a system of rewards/incentives which shall cover all officials and employees of the BIR and the BOC whenever they surpass their collection targets. (January 25, 2005)
RA 9334 (SIN TAX) - Sin Tax is a form of excise tax on alcohol and tobacco products. It imposes higher rates which will raise revenue for the government to fund government health programs. Sin Tax is imposition of Distilled Spirits, Wines, Fermented Liquor, Tobacco Products, and Cigars and Cigarettes. (December 21, 2004)
RA 9301 (PHILIPPINES OVERSEAS SHIPPING) - This law will spur the long over-due growth and development of our Philippine flag carriers. Thousands of world-class Filipino seafarers will have employment opportunities with Filipino ship owners without need of seeking employment from foreign shipping lines. (July 27, 2004)
RA 9295 (DOMESTIC SHIPPING DEVELOPMENT ACT) - This law supports the country's shipping industry including ship-building and repair which provides much needed infrastructure for economic activity, and development by encouraging a modernized and safe domestic merchant marine fleet through fiscal incentives. (May 3, 2004)
RA 9294 (FCDU) - This law encourages foreign currency deposit units (FCDU5) and offshore banking units (OBUs) to continue their presence and operations in the country. This will help stabilize the value1of the peso against other currencies because they provide a secondary source of foreign currency reserves. (April 28, 2004)
RA 9282 (CTA) This law elevated the rank of the Court of Tax Appeals and expanded its jurisdiction to aid government in collecting from tax evaders and smugglers. (March 30, 2004)
RA 9243 (DST) - This law "leveled the playing field" for debt and equity instruments and provided for lower DST on short-term debt instruments. This encourages long-term savings by exempting from DST long-term insurance policies and pre-need plans while imposing a DST on other evidences of indebtedness such as special savings accounts usually maintained by wealthy depositors to generate an expected revenue collection which will translate to more services and benefits given to the Filipino people. (February 17, 2004)
RA 9238 (GRT) - This law restored the Gross Revenue Tax on banks and non-banks financial institutions thus resulted into a more efficient collection of the tax on the bank sector. The more productive GRT will result in more revenues for government services. This law solved the more problematic determination of bank services that should be covered by the Value Added Tax. (February 5, 2003)
RA 9224 (EXCISE ON AUTOMOBILES) - This law provided for a more fair, equitable and progressive as tax rates are based on price such that lower-priced vehicles are taxed at lower rates and expensive vehicles at higher rates. Under this law, the tax rate on lowest-priced vehicles is reduced from 15% to 2%. The more affordable prices offered in the market will serve to curb smuggling and many of our countrymen will be encouraged to buy vehicles which will result to greater tax revenues. (August 29, 2003)
RA 9182 (SPV) Special Purpose Vehicle. - This law helped not only the investors but also the ordinary bank borrowers in recovering their foreclosed assets by eliminating friction costs in the disposition of their non-performing assets and loans. The same privileges are likewise extended to any individual who wishes to buy such assets. This stabilized the banking sector by freeing up their valuable resources to more productive uses. (December 3, 2002)
RA 9178 (BMBE) - This law promoted small businesses in barangays that will create many jobs for the poor. It encourages the informal sector to merge with the format sector through the grant of incentives and absence of bureaucratic restrictions, and at the same time increase their productivity and contributions to the economy by widening their access to credit, capability building, training and marketing assistance. (November 13, 2002)
RA 9167 (FILM DEVELOPMENT COUNCIL) - This law boosted the film industry through the grant of rewards and incentives to locally produced movies of
high quality. (June 7, 2002)
RA 9161 (RENT CONTROL) - This law prevented unbridled increases in rents of residential units and gave protection to low-income tenants and boarders, especially students. The rent control law covers all residential units in the National Capital Region and other highly urbanized cities with monthly rental not exceeding Ten Thousand Pesos (P10,000.00) and all other areas with monthly rental not exceeding Five Thousand Pesos (P5,000.00). (December 21, 2005)
RA 8762 (RETAIL TRADE LIBERALIZATION) - This law restricts foreign investment in certain sectors to give protection to Filipino capital thereby aborting capital monopoly which results to unfair competition and unfair trade practices, This law creates a competitive and free market environment, employment generation and livelihood. (March 7, 2000)
RA 8756 (REGIONAL HEADQUARTERS ACT) This law provides for the exemption
from income tax of regional or area headquarters established in the Philippines by multinational companies and which headquarters do not earn or derive income from the Philippines and which act as supervisory, communications and coordinating centers for their affiliates, subsidiaries, or branches in the Asia-Pacific Region and other foreign markets. The regional operating HQs shall be subject to a tax rate of 10% of their taxable income, provided that any income derived from the Philippine sources by the RAHQ when remitted to the parent company shall be subject to the tax on branch profit remittances. (November 23, 1999)
RA 8748 (PEZA) - This law provides for fiscal and non-fiscal incentives to businesses/enterpri ses who will register with PEZA as Ecozones. The creation of Ecozones will boost development in the countryside, provide local employment and promote tourism. (June 1, 1999)
RA 8425 (NAPC) - This law is known as the "Social Reform and Poverty Alleviation Act. The law mandates the NAPC to enhance the programs, approaches and strategies to strengthen the partnership between government and the basic sectors towards alleviation of poverty and sustained development, hence empowering the marginalized sector of society and to address the issues greatly affecting the marginalized sectors such as farmers and landless rural workers, fisherfolk, indigenous peoples and indigenous communities, workers in the informal sector, urban poor, members of other disadvantaged groups such as the women, children, youth, persons with disabilities, the elderly, and victims of natural and man-made calamities. (June 3, 1998)
RA 8424 (TAX REFORM ACT OF 1997) - This law amends the National Internal Revenue Code in line with the policy of the State to promote sustainable economic growth through the rationalization of the Philippine internal revenue tax system including tax administration. (December 11, 1997)
RA 7916 (SEZA) - This law grants preferential tax treatment to enterprises located in special economic zones (also referred to as ecozones) to boost local economy and attract investors. Due to the more attractive, tax incentive package investments in these areas are spurred and consequently lead to the development of contiguous areas due to the improved infrastructure and availability of employment. In turn tax revenues are
generated from allied services and employment. This compensates for the taxes waived on foreign investment income because of the tax incentives. Said revenue generated contributes to government funds for social and welfare services. (February 24 1995)

STAND ON CHARTER CHANGE ISSUE:

Senator Ralph Recto said he preferred a constituent assembly, but balked at the idea of sitting with members of the House who insist that both chambers should vote as one.

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