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 15, 2019
Scope
Legislative History
| House Bill/Resolution NO. HB02084 |
| 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 income tax rate, reform the corporate income tax system, and broaden the tax base by modernizing investment tax incentives to enhance fairness, improve competitiveness, plug tax leakages, and achieve fiscal sustainability.Endeavors to address several major policy issues as regards to:a) corporate income tax rate and tax base;b) investment tax incentive system;c) transfer pricing and other anti-avoidance practices; andd) role of the Department of Finance minister re: grant of tax incentives. |
| PRINCIPAL AUTHOR/S : CUA, JUNIE E. |
| DATE FILED : 2019-07-15 |
| 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 2019-07-29 |
Abstract
Seeks to lower the corporate income tax rate, reform the corporate income tax system, and broaden the tax base by modernizing investment tax incentives to enhance fairness, improve competitiveness, plug tax leakages, and achieve fiscal sustainability.Endeavors to address several major policy issues as regards to:a) corporate income tax rate and tax base;b) investment tax incentive system;c) transfer pricing and other anti-avoidance practices; andd) role of the Department of Finance minister re: grant of tax incentives.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.