A delayed tax reform bill that would significantly cut corporate taxes will be passed in two weeks, according to Sen. Ralph Recto.
This is the latest promise for a measure that could have already been passed last year if it were not for a change of heart in the Lower House.
Recto said in an online forum on Friday that lawmakers would soon pass the much-awaited bill called CREATE, or the Corporate Recovery and Tax Incentives for Enterprises.
The bill is the latest iteration of a tax reform package that seeks to cut corporate taxes and rationalize tax breaks. Since the package was first introduced about three years ago, the draft has gone through several revisions.
CREATE is th…
Keep on reading: Passage of tax perks bill expected in 2 weeks