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Bacolod City, Philippines Tuesday, July 26, 2016
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Duterte says govít to cut
income, corporate taxes

MANILA -- President Rodrigo Duterte yesterday vowed to pursue tax reforms under his administration.
In his first State of the Nation Address, Duterte said his administration aims to lower rates for both personal income tax and corporate tax.

The Chief Executive noted that pushing for tax reforms will foster job creation as more investors will be attracted with the competitive tax rates here.

In Southeast Asia, the Philippines has the highest rates for income and corporate taxes.

Various business groups have been asking the government to cut tax rates in order to make businesses in the country more competitive.

      Duterte is also asking lawmakers to create a bill that will strengthen organizations that are looking after the welfare of Filipino workers abroad.

 “I may ask Congress to create a bill consolidating agencies that have anything to do with overseas Filipinos,” Duterte said.

The president would also wants to establish a one-stop shop in airports, particularly in Clark, Pampanga to assist these workers.

“Moreover, a one-stop shop should be established within Clark for the benefit of Overseas Filipinos,” he added.
Duterte is eyeing Clark International Airport as an alternative gateway to the country aside from the other international airports in the country.*PNA



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