Philippines to Debate Slashing 30% Corporate Tax Rate

The Philippines this month could take a step closer to lowering its 30% corporate tax rate—the highest in Southeast Asia.

Lawmakers are set to consider a government proposal to phase in a corporate rate cut to 20% by 2027 when they return from recess July 27.

The tax cut is part of a broader stimulus package lawmakers are pursuing to boost foreign investment and economic recovery as the country tries to rebound from the pandemic. The idea of such a cut has been percolating for years. The current proposal, made in 2019, would put the Philippines closer to the ...