Congress is set to reconvene in May, and Duterte’s allies have filed a bill for part two of his Comprehensive Tax Reform Program. The initiative is a major policy overhaul aimed at funding a $160 billion infrastructure drive.
The first package of measures — the Tax Reform for Acceleration and Inclusion Act (TRAIN), passed in December — cut personal income taxes but raised levies on products such as coal and fuel. Now the government wants to push through the second package, which would gradually lower corporate income tax to 25% from 30% while curtailing incentives currently enjoyed by large companies. Many big players are registered with PEZA, a key investment promotion agency. READ MORE
Similar Posts:
- Dutertenomics: Infrastructure Projects (Nikkei Asian Review)
- Ayala: Duterte’s China Pivot Transforms Philippines’ Oldest Conglomerate (Nikkei Asian Review)
- PLDT Points to Duterte’s Tirades, ‘Intense Competition’ in Budget Fiasco (Rappler)
- Heads to Roll at PLDT, Says ‘Disappointed’ MVP (Inquirer)
- Philippines: Uncertainty as Central Bank Chief Steps Down (Nikkei Asian Review)
- Philippines’ Largest IPO Ends Flat in Debut Trading (The Asset)
- After a 15-year Hot Streak, Macao’s Casino Owners May Have to Pay Up (Nikkei Asian Review)
- Trade War Steers Chinese Investment Toward Southeast Asia (Nikkei Asian Review)
- Philippines Globe Telecom to Raise Funds, Expand (The Asset)
- Cash Splash: How Sea Became Southeast Asia’s Biggest Public Company (Nikkei Asia)
- Portfolio Money Flows Back Into the Philippines (WSJ)
- China is building an island on the disputed Mabini Reef (Timelapsed Pictures)
- Jollibee’s Quest for Global Dominance Derailed by Virus (Nikkei Asian Review)
- A Damaged Culture No More? Investing in the Philippines
- Jollibee’s Big Appetite (Nikkei Asian Review)
