Duterte Spooks Foreign Investors With Tax ‘Sword of Damocles’ (Nikkei Asian Review)
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
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