The Philippine government has published a release announcing that President Duterte has given his full backing to the Comprehensive Tax Reform Program (CTRP). The first package of measures for the CTRP was submitted to parliament in January, including major adjustments to the individual income tax brackets and rates, as well as the expansion of the value added tax base by removing most exemptions and other changes ({News-2017-02-01/P/2- previous coverage}). According to the announcement, a second CTRP package will be submitted that includes lowering the corporate tax rate from 30% to 25%. It is hoped that all reforms under the CTRP...