The House Committee on Ways and Means has approved the administration’s second tax reform package (Corporate Income Tax and Incentives Reform Act (CITIRA)) on 14 August 2019, which aims to reduce corporate income taxes (CIT) and rationalize incentives. The panel was chaired by Albay Rep. Joey Sarte Salceda. The Department of Finance (DOF) has announced this Bill on 25 April 2019. It was pending in Congress for approval.
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