Philippines: Government loses P300 billion revenue yearly from tax perks
MANILA, Philippines — Income tax holidays and other perks enjoyed by large corporations cost the government over P300 billion in foregone revenue annually, according to the Department of Finance (DOF). Citing data gathered from the Tax Incentives Management and Transparency Act (TIMTA), Finance Undersecretary Karl Kendrick Chua said the government lost P301.22 billion in revenue […]
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