MANILA – The Department of Finance expects the Congress to pass four tax reform bills this year, a department official said during a media roundtable on Wednesday.
“It can be done this year,” Antonio Joselito Lambino, Finance assistant secretary said.
The proposed measures include the Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO), Package 2 Plus, Package 3, and the Capital Income Tax Reform.
TRABAHO seeks to lower the corporate income tax of more than 99 percent of
businesses in the country.
“Mas gagawin po nating moderno at patas ‘yung pagbibigay ng insentibo sa mga investors,” Lambino noted.
Lowering the corporate income tax will reduce government revenue, but the fiscal incentives to investors will give it the necessary balance, he added.(GMA News)
