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JFC still not withdrawing proposal to cut tax rates (Business Mirror (Philippines))

by September 15, 2015 Industry

Foreign business groups are not withdrawing their petition for tax reforms, particularly the lowering of individual and corporate income-tax (CIT) rates, despite the repeated pronouncements from Malacanang that the administration is against the proposal. The Joint Foreign Chambers (JFC), in a position paper, said the country needs to adjust its tax rates to be competitive in…