Various groups call for refinements on Citira

Various groups have expressed their support to the second package of the government’s Comprehensive Tax Reform Program, but said refinements to the proposed measure are needed.

“We support the overall corporate income tax framework proposed under the Corporate Income Tax and Incentives Rationalization Act (Citira) bill lowering the corporate income tax (CIT), and at the same time widening the tax base and promoting discipline in tax expenditure through a more prudent, targeted and transparent fiscal incentives system,” the groups announced in a joint statement released on Monday.