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Salceda urges House to adopt of Senate’s version of Citira

By: - Reporter / @CMarquezINQ
/ 05:30 PM February 27, 2020

MANILA, Philippines — Albay Representative Joey Salceda said he would recommend to the House of Representatives the adoption of the Senate’s version of Corporate Income Tax and Incentives Rationalization Act (Citira) Bill which aims at reducing corporate taxes and rationalizing tax incentives.

“I can easily absorb that [Senate’s] with the House version. If the Senate version na nilabas ni Senator Pia [Cayetano], my proposal to the [House] Speaker is to adopt it. Wala ng bicam,” Salceda said during his presentation at the Makati Business Club’s General Membership Meeting.

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(If Pia Cayetano’s version will be used, I can easily absorb that with the House version. My proposal to the House Speaker is to adopt Senate’s bill. Then it would no longer pass through a bicameral committee.)

Salceda was referring to Senate Bill No. 1357, filed by Cayetano, which seeks to reduce corporate income tax gradually by one percent every year—from 30 percent to 20 percent by 2030.

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Asked why Salceda wants to adopt the Senate’s bill despite some “concessions,” he said: “I will accept the entire Senate version now for the sake of speed.”

The Senate’s measure is still pending on second reading, but Cayetano already endorsed the bill for plenary approval at the upper chamber.

Meanwhile, House Bill No. 4157 or the proposed Citira, the second tranche of government’s tax reform package, was already approved on third and final reading last year.

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TAGS: and Incentives Rationalization Act, corporate income tax, House of Representatives, Joey Salceda, Nation, tax reform
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