The Philippines Department of Finance (DOF) has published a release announcing that substantial progress has been made in passing the Comprehensive Tax Reform Program (CTRP) bill after a House ways and means committee vote was made to pass a substitute bill with only moderate changes to the original proposed by the DOF ({News-2017-02-01/P/2- previous coverage}). According to the release, key measures of the substitute bill include:
- The lowering of personal income tax (PIT) rates as original…