3 months Gov’t to study shift to gross income taxation MB |Biz
By Myrna M. Velasco The Duterte administration plans to form a group that would study the proposal to use gross income as basis in the computing corporate taxes to minimize corruption, the Department of Finance (DOF) said. MB file Finance Secretary Carlos G. Dominguez III said that President Rodrigo R. Duterte’s proposal to shift the basis of corporate tax from net income to gross revenues will be considered by the economic team and other departments. “There is a recommendation to form a group headed by the Executive Secretary and participated by the Department of Justice and Development Budget Coordination Committee ... more