The Joint Foreign Chambers (JFC) said it supports proposals to reduce personal and corporate income taxes in the Philippines, saying this would increase investment and trade and result in higher total revenues.

“This position was stated in Arangkada Philippines 2010 and is consistent with numerous recommendations over many years by Philippine and international economists, contrary to the view of some that reducing corporate and personal tax rates will decrease total revenues and lead to a deficit,” the foreign business group said in a statement on Tuesday.

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