Better tax perks were assured to Japanese firms by the Department of Finance (DoF) to encourage them to invest more in the Philippines.

The DoF said it recently assured Japanese investors that the second package of the Duterte administration’s tax reform program, which aims to cut the corporate income tax (CIT) rate and rationalize investment incentives, would be a game-changer that would expand, rather than curtail, opportunities for them to do business in the Philippines.

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