Passage of corporate income tax measure pushed

Cayetano said the CITIRA bill or Senate Bill No. 1357 is a “fair, efficient and accountable” measure which seeks to ensure a “fair deal for all. The best deal for Filipinos.

Cayetano said the measure primarily seeks to cut the CIT rate in the Philippines, which remains among the highest in the ASEAN region, and reform the fiscal incentives system to make it more fair, efficient, and accountable. According to Cayetano, the bill intends to prioritize incentives to business activities that generate domestic employment; promote research, development and innovation; promote agribusiness; and invest in areas that are less developed or are recovering from disasters and conflicts, among others.

Furthermore, the measure seeks to expand the functions of the Fiscal Incentives Review Board , which presently grants incentives to government-owned or controlled corporations.

Anak ng Baka eto na. Naman,magpapasa ng Batas na bababa ang rate of Corporate Income Tax, pabor na naman sa mga MAYAYAMAN. Nagpasa rin ng TRAIN LAW kaya Tumaas presyo ng mga BILIHIN at apektado mga mamayan, anong klaseng Pagiisip meron itong mga Legislators

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