THE Petroleum Association of the Philippines (PAP) is planning to ask the Department of Finance (DoF) to clarify a part in the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that involved portions of a Marcos-era law that may negatively impact oil firms.
This package proposes to gradually lower the corporate income tax rate from 30 percent to 25 percent and modernize incentives for companies.
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