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What is Income Tax Reduction Bill Overview about?

The House Committee on Ways and Means is drafting a bill to lower income tax rates for individuals and corporations in the Philippines. The committee has been working with the National Tax Research Center to craft the bill. Several similar bills have been filed in the House and Senate, aiming to reduce tax rates to 8-10% from the current 30-32% and stimulate the economy. The committee chairman said the objective is to promote inclusive growth in line with President Duterte

Author

pribhor2

Language

EN