Significant changes in corporate taxation are proposed in House Bill No. 8083, otherwise known as the Tax Reform for Attracting Better and High-quality Opportunities or TRABAHO, the second package of the government’s comprehensive tax reform program. In this version, one of the proposed changes is the projected decrease of normal corporate income tax rates, which shall be reduced by two percent every two years over a 10-year period. Currently, the normal corporate income tax rate is 30 percent.
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