Trabaho bill ‘to yield little results’ – Fitch unit

Corporate income tax (CIT) cuts under the House-approved Tax Reform for Attracting Better and Higher Quality Opportunities (Trabaho) bill are unlikely to generate higher investments given the Philippines’ poor business environment, a Fitch Group unit said on Thursday.

Trabaho, the second tax reform package under the Duterte administration’s Comprehensive Tax Reform Program (CTRP), calls for a gradual CIT lowering and the streamlining of tax incentives for investors. It was approved on third and final reading by the House of Representatives on September 10 and will now be considered by the Senate.