Citira improves incentives to priority industries

THE country’s fiscal incentives system, which treats more than two-thirds of the economy as priority industries, will be improved under the proposed Corporate Income Tax and Incentives Rationalization Act (Citira Bill), the Department of Finance (DoF) said.

In a statement, the Finance department revealed that its recent study showed that the priority industries, covered by the 2017 Investment Priorities Plan, account for a total of 69.4 percent of the whole economy in terms of gross value added.