According to a release from the Philippines Department of Finance, Finance Secretary Carlos Dominguez III has expressed confidence that Congress can pass the remaining packages of the comprehensive tax reform program (CTRP) in 2020. This includes the hope that Congress can pass Package 2 of the CTRP – the proposed Corporate Income Tax and Incentives Rationalization Act (CITIRA) – in the first quarter, so that it could be signed into law by March 2020. One of the key measures of the CITIRA is a reduction of the current 30% corporate income tax rate by 2% every two years until reaching...