PCCI supports extended transition period for Citirahome/Business/Top Business/PCCI supports extended transition period for CitiraA longer transition period is needed if the rationalization of tax incentives under the proposed Corporate Income Tax and Incentives Rationalization Act (Citira) pushes through, according to the Philippine Chamber of Commerce and Industry (PCCI). Formally known as House Bill 4157, Citira is the second package of the Duterte administration’s Comprehensive Tax Reform Program. It was formerly known as the Tax Reform for Attracting Better and High-quality Opportunities measure. The House of Representatives approved HB 4157 on third and final reading on September 13. A counterpart bill is being studied by the Senate ways and means committee.

Source: Manila Times September 26, 2019 16:17 UTC