As part of the ongoing debate for corporate tax reform as part of the Comprehensive Tax Reform Program, the Philippines Department of Finance (DOF) has announced that the government is pushing to end the indiscriminate grant of costly tax Incentives, which under existing rules are mainly only granted to the largest companies. Instead, greater focus should be given to supporting SMEs and to preventing the abuse of incentives, according to the DOF. In this respect, the DOF is proposing governance improvements through an amended Tax Incentives Management and Transparency Act (TIMTA) law and an expanded Fiscal Incentives Review Board (FIRB),...