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What is Corporate Tax Reform in the Philippines about?

Train Law Package 2 proposes reforms to the corporate income tax system and investment incentives in the Philippines. It aims to lower corporate tax rates gradually to 20% to be competitive with regional rates, remove certain tax exemptions, and limit incentives to strategic industries and lagging regions. These reforms seek to address the inequities of the current system where most small businesses pay 30% tax while some large firms get incentives lowering their rate to 6-13%. The proposed law aims to broa

Author

Jenielyn Delamata

Language

EN