PCCI supports CITIRA bill

The Philippine Chamber of Commerce and Industry approved Wednesday the set of 21 resolutions it will present to President Rodrigo Duterte during the final day of the 45th Philippine Business Conference and Expo.

Among the urgent and important resolutions involve the immediate approval of the Corporate Income Tax Incentive Reform Act bill that will effectively reduce corporate income tax, with the incentives package fine-tuned to support the export industries, increase foreign direct investments and prevent job losses.

The conference sought the adoption of lower corporate income tax rate to 20 percent with no condition to make the country at par with ASEAN neighbors and provide a longer transition period of 10 years for existing registered enterprises availing of the fiscal incentives.

CITIRA is also expected to rationalize fiscal incentives under the Strategic Investment Priority Plan and for the investment promotion agencies to continue as one-stop-shop in the availment of these incentives.

Topics: Philippine Chamber of Commerce and Industry , PCCI , Corporate Income Tax Incentive Reform Act , CITIRA bill
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.