Philippines: Reduces the corporate income tax rate

27 September, 2014

The Chairman of the House Committee on Ways and Means filed House Bill 4829 looking for to reduce the corporate income tax (CIT) rate from 30% to 25%. The same bill also includes a proposal to increase the minimum corporate income tax (MCIT) rate from 2% to 5% On 26 August 2014. Under draft legislation currently under review the tax rate would be reduced in stages from 30% to 25%.

Asia-Pacific

Philippines

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