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As tax base shrinks during pandemic, proposed law seeks to cut revenue sources

Robert JA Basilio Jr., Philippine Center for Investigative Journalism
Posted at Oct 30 05:00 PM

The Duterte government is pushing for a bill cutting the corporate income tax in exchange for strict limits to tax perks enjoyed by investors. Economists however warn against eroding the revenue base at a time of a pandemic, when funds are needed the most. Read more »

Business groups back revised corporate tax reform bill, say it will help small businesses

ABS-CBN News
Posted at May 25 06:21 PM

PCCI president Benedicto Yujuico said the changes made to the tax reform package "will boost the recovery of firms reeling from the economic slowdown."  Read more »

PEZA drops bid to exempt locators from corporate tax reform

ABS-CBN News
Posted at Oct 09 09:49 PM

The Philippines' main investment promotion agency has dropped its demand to exempt the firms under it from a bill seeking to limit tax perks.  Read more »

DTI insists on longer 'transition period' for CITIRA to limit job losses

ABS-CBN News
Updated as of Sep 25 12:12 AM

The proposed reforms to the Philippines' tax incentives system should have a longer transition period to "minimize" job losses, the head of the country's trade ministry reiterated on Tuesday.    Read more »

Senators revisit Duterte admin's 2nd tax reform package

ABS-CBN News
Posted at Sep 17 12:18 AM

The Duterte administration's second tax reform package, also known as the TRABAHO bill, died in the Senate during the 17th Congress. Read more »

Exporters bat to keep incentives as tax reform bill advances in House

Warren De Guzman, ABS-CBN News
Updated as of Sep 11 11:00 PM

Electronics and garments exporters joined the call of other industry groups for the government to retain their tax incentives as a bill seeking to limit tax perks advanced in the House of Representatives.  Read more »

Corporate tax reform bill gets Congress nod on 2nd reading

ABS-CBN News
Posted at Sep 09 10:10 PM

MANILA - Lawmakers on Monday approved on second reading a lower House bill that seeks to reduce corporate income taxes and limit fiscal incentives.  Read more »

NGO wary of immediate corporate income tax cuts

ABS-CBN News
Posted at Aug 31 05:33 PM

A non-government group cautions against the planned immediate reduction of corporate income tax that is included in the proposed Corporate Income Tax and Incentive Rationalization Act (CITIRA) bill. Karla Yu of Action for Economic Reforms says the government has to first assess whether or not it could afford the planned reduction even as the country's economic status is due to change in the next few years. She also urges Philippine lawmakers to expedite budget deliberations to speed up the rollout of the government's infrastructure projects. Read more »

PEZA, DTI spar over proposal to rationalize incentives

ABS-CBN News
Updated as of Aug 29 10:13 PM

The Philippine Economic Zone Authority again questioned proposals to rationalize tax perks for select firms, even as the Department of Trade and Industry insisted that changing the system of fiscal incentives was necessary.  Read more »

House panel approves TRABAHO Bill

ABS-CBN News
Posted at Aug 14 10:27 PM

The House Committee on Ways and Means approved House Bill 176, also known as Tax Reform for Attracting Better and High-quality Opportunities. Read more »

Finance dept seeks 'accelerated process' for tax reform: official

ABS-CBN News
Posted at Jul 29 10:04 AM

The Finance Department would work “round the clock” to get the Congress approval for the remaining packages of the administration’s Comprehensive Tax Reform Program (CTRP), an official said Monday.  Read more »

Senators looking for compromise to pass TRABAHO bill

ABS-CBN News
Posted at Jul 24 11:54 PM

Another measure President Rodrigo Duterte wants passed is the Tax Reform for Attracting Better and High-quality Opportunities Bill. Read more »

Ease of business, new infra will make up for loss of some incentives, says official

ABS-CBN News
Posted at Jul 24 07:24 PM

Officials pushing a bill seeking to bring down corporate income taxes and rationalize fiscal incentives played down concerns it will lead to job losses.  Read more »

Tax uncertainty may force more foreign funds to relocate: German chamber

ABS-CBN News
Posted at Jul 24 04:15 PM

Foreign investors in the Philippines warn the removal of incentives in economic zones may force investors to move elsewhere in Southeast Asia, notwithstanding cheap labor in the Philippines. Read more »

Duterte delivers 4th SONA

Jonathan Cellona, ABS-CBN News
Posted at Jul 22 08:56 PM

President Rodrigo Duterte delivers his fourth State of the Nation Address at the Batasang Pambansa in Quezon City on Monday as Senate President Vicente Sotto III (left) huddles with newly-elected House Speaker Alan Peter Cayetano. Read more »

Duterte tinulak ang death penalty, tinalakay ang West PH Sea sa SONA 2019

ABS-CBN News
Updated as of Jul 22 09:51 PM

Ang pagbabalik sa parusang kamatayan ang isa sa mga tinalakay ni Pangulong Rodrigo Duterte sa kaniyang SONA.   Read more »

Duterte to lawmakers: Pass second round of tax reforms

ABS-CBN News
Updated as of Jul 23 12:04 AM

President Rodrigo Duterte called on Congress to pass the bill reforming the country's corporate income tax system and rationalizing fiscal incentives. Read more »

Tax reforms likely to remain high on Duterte agenda: analyst

ABS-CBN News
Posted at Jul 22 02:03 PM

Euben Paracuelles of Nomura Securities believes passing the second tax reform package is the "appropriate path" to take to fund the massive infrastructure push. Read more »

Duterte must 'iron out' second tranche of tax reform for investors: analyst

ABS-CBN News
Updated as of Jul 22 11:07 AM

President Rodrigo Duterte should "iron out" the measure that aims to lower corporate income tax and to rationalize incentives as the market expects update on tax reforms, an analyst said Monday. Read more »

Duterte SONA: Financial markets seek action plan for next 3 years

Jessica Fenol, ABS-CBN News
Posted at Jul 20 06:38 AM

President Rodrigo Duterte should use his State of the Nation Address (SONA) set Monday to present concrete plans which ensure swift implementation of newly enacted laws as well as clear policy directions in terms of taxation, labor and foreign ownership to attract more investors, analysts and business group leaders said. Read more »