It is with pleasure that we share with you Stratbase ADR Institute’s December 2019 occasional paper entitled, “The Proposed CITIRA Law and the Possible Unintended Consequences”.
The Corporate Income Tax and Incentives Reform Act is a controversial tax package that seeks to rationalize tax incentives and has raised big debates on its possible repercussion to industries and employment. Comprised of five parts, the first part introduces and describes the context of the current taxation system under the Duterte administration. It then proceeds on to the elaboration on the CITIRA Law and unveils its unintended consequences. With the ensuing dynamics considered, the paper concludes by emphasizing the need for a clear policy direction and environment to boost investments and economic momentum.