The Department of Finance (DoF) on Monday called for an early passage by Congress of the proposed Comprehensive Tax Reform Program (CTRP) to create a strong buffer against the resurgence of protectionism around the world. Building on solid fundamentals, we must immediately bring relief to all Filipinos burdened with oppressive tax rates. “Without the tax reform package, our GDP growth cannot be sustained by at least 7 percent. High taxes unsustainableDominguez explained: “We can no longer maintain high income tax rates. We cannot attract the investments we need until we bring our tax rates to the regional average.

Source: Manila Times February 13, 2017 16:29 UTC