Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTIONS 4, 5, 20, 22, 25, 27, 28, 34, 40, 50, 73, 112, 117, 119, 203, 204, 222, 237, 237-A, 255, 256, 257, 258, 260, 261, 262, 263, 264, 265, 266, 275, 282, 290 AND ADDING SECTIONS 6-A AND A NEW TITLE XIII UNDER THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
July 10, 2019
Scope
Legislative History
| House Bill/Resolution NO. HB01909 |
| FULL TITLE : AN ACT AMENDING SECTIONS 4, 5, 20, 22, 25, 27, 28, 34, 40, 50, 73, 112, 117, 119, 203, 204, 222, 237, 237-A, 255, 256, 257, 258, 260, 261, 262, 263, 264, 265, 266, 275, 282, 290 AND ADDING SECTIONS 6-A AND A NEW TITLE XIII UNDER THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES |
| ABSTRACT : Seeks to lower the corporate tax rate through rationalizing the administration of tax incentives which shall be performance-based, target, time-bound and transparent.Aims to widen the corporate tax base and plug its tax leakages; and to rationalize and discipline tax incentives to ensure the benefits investments would bring and help alleviate financial burden on the business community, especially the micro, small, and medium-sized enterprises. |
| PRINCIPAL AUTHOR/S : VILLAFUERTE, LUIS RAYMUND "LRAY" JR F. |
| DATE FILED : 2019-07-10 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB04157 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2019-07-24 |
Abstract
Seeks to lower the corporate tax rate through rationalizing the administration of tax incentives which shall be performance-based, target, time-bound and transparent.Aims to widen the corporate tax base and plug its tax leakages; and to rationalize and discipline tax incentives to ensure the benefits investments would bring and help alleviate financial burden on the business community, especially the micro, small, and medium-sized enterprises.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.