President Rodrigo Duterte delivering his State of the Nation Address. SCREEN GRAB FROM RTVM
President Rodrigo Duterte on Monday vowed to lower individual and corporate tax rates during his term.
“We will lower personal and corporate income tax,” Duterte said.
READ: Incoming finance chief: Duterte admin plans to lower tax rates
The President also promised to “relax the bank secrecy law.”
Economic and finance officers of Duterte earlier said that the government would definitely review the tax system, initially to update the income tax brackets and eventually to low corporate and individual tax rates. JE/rga
READ: IMF urges Duterte gov’t to repeal bank secrecy law to improve tax collection
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