CCCI welcomes lower corporate income tax as part of economic recovery

In a statement signed by its president, Felix Taguiam, the CCCI expressed full support of the proposal of the National Economic and Development Authority on introducing a corporate income tax of 25 percent.

“In this most trying of times, the reform in the corporate tax system through the PH-PROGRESO – its goal of making Philippine recovery with ‘Equity and Solidarity’ is a welcoming development for us in the business sector,” CCCI said. Presently, the Philippines has a corporate income tax of 30 percent, considered as Southeast Asia’s highest rate.

“As such, lowering the corporate income tax rate will not only help entrepreneurs and small and medium enterprises recover and thrive, but it will also attract foreign investors in search of resilient, high-growth-potential economies like ours, when the quarantine is lifted,” they added.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks end lower on Wall Street as US-China tensions weighStocks closed broadly lower on Wall Street Thursday as investors weighed more data showing the economic damage being caused by the coronavirus pandemic and another flareup in tensions between the U.S. and China.
Source: inquirerdotnet - 🏆 3. / 86 Read more »