The Philippine's 2017 Budget was submitted to Congress on 15 August 2016. While short on details, President Rodrigo Duterte's budget message includes a tax reform package with the following proposals:
- Reducing the top corporate tax rate from 30% to 25%;
- Reducing the top individual income tax rate from 32% to 25%;
- Expanding the value added tax base and indexing oil excise taxes to inflation (to offset the corporate and individual tax rate cuts);
- Improving the systems and capacity of the Burea…