The government has posted an estimated P1.12 trillion of foregone revenues in tax perks awarded to select companies from 2015 to 2017, the Department of Finance (DoF) revealed on Tuesday.
In a statement, the DoF said that such foregone revenues include income tax incentives, tax incentives on customs duties and tax incentives on import value added tax given away to 3,150 companies for the three-year period.
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