Philippines Dangles Corporate Tax Cuts to Woo Foreign Investors

The Philippines is opening its doors to foreign investment as it tries to bounce back from the pandemic, Trade Secretary Ramon Lopez said Wednesday, touting corporate income tax cuts and structural reforms that can withstand political successions.

“We are looking forward to a much lower corporate income tax rate in the months to come,” Lopez said in an interview with Bloomberg Television’s David Ingles, citing a bill that would cut corporate tax rates from 30% to 25% to start, and eventually to 20%.