Reported 13 days ago
Philippine President Ferdinand Marcos Jr. has signed a law lowering corporate income taxes from 25% to 20% for registered businesses, while also extending tax incentives for up to 27 years and providing additional deductions for power expenses. This initiative aims to enhance investment attractiveness in the Philippines, which historically had the highest corporate tax rate in Southeast Asia. Despite projected revenue losses, the government hopes this move will spur economic growth and job creation.
Source: YAHOO