Foundation for Economic Freedom, Inc. BOARD OF ADVISERS: Gerardo Sicat Cesar A. Virata BOARD OF TRUSTEES: Roberto De Ocampo Chairman Romeo Bernardo Vice-Chairman Calixto Chikiamco President Ernest Leung Treasurer Atty. Ricardo Balatbat III Corporate Secretary Anthony Abad Art Corpuz Eduardo Gana Felipe Medalla Vaughn Montes Simon Paterno Gloria Tan-Climaco Francis Varela (†) Atty. Ricardo Balatbat III Executive Director 105 Philippine Social Science Center (PSSC) Commonwealth Ave., Diliman, Quezon City Telefax: (632) 4532375 (Main Office) Tel No.: (632) 8939602 (Accounng) Website: www.fef.org.ph Email: [email protected] / [email protected] FEF POSITION ON LOWERING INCOME TAX RATES We, the Foundaon for Economic Freedom, support moves in the House and the Senate to lower personal individual tax rates, to adjust tax brackets, and to slowly align corporate tax rates with the rest of ASEAN. Inflaon has pushed up the majority of fixed income earners to the highest tax brackets. The country has the highest individual tax and corporate tax rates in the region, thus, in the interest of fairness, equity, and compeveness, new tax rates need to be legislated. FEF also supports moves for government to look into compensatory revenue-raising measures that are progressive and simple to administer. Release Date: September 17, 2015 For more informaon, please check our website: www.fef.org.ph, or contact the following: Ranna Pintor, Program Officer – [email protected] / +63 2 453 2375

Fef position on lowering income tax rates

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Page 1: Fef position on lowering income tax rates

Foundation for Economic Freedom, Inc.

BOARD OF ADVISERS:

Gerardo Sicat

Cesar A. Virata

BOARD OF TRUSTEES:

Roberto De Ocampo Chairman Romeo Bernardo Vice-Chairman Calixto Chikiamco President Ernest Leung Treasurer Atty. Ricardo Balatbat III Corporate Secretary Anthony Abad Art Corpuz Eduardo Gana Felipe Medalla Vaughn Montes Simon Paterno Gloria Tan-Climaco Francis Varela (†) Atty. Ricardo Balatbat III Executive Director

105 Philippine Social Science Center (PSSC) Commonwealth Ave., Diliman, Quezon City

Telefax: (632) 4532375 (Main Office) Tel No.: (632) 8939602 (Accounting)

Website: www.fef.org.ph Email: [email protected] / [email protected]

FEF POSITION ON LOWERING INCOME TAX RATES

We, the Foundation for Economic Freedom, support moves in the House and the

Senate to lower personal individual tax rates, to adjust tax brackets, and to slowly align

corporate tax rates with the rest of ASEAN.

Inflation has pushed up the majority of fixed income earners to the highest tax

brackets. The country has the highest individual tax and corporate tax rates in the region, thus,

in the interest of fairness, equity, and competitiveness, new tax rates need to be legislated.

FEF also supports moves for government to look into compensatory revenue-raising

measures that are progressive and simple to administer.

Release Date: September 17, 2015

For more information, please check our website: www.fef.org.ph, or contact the following: Ranna Pintor, Program Officer – [email protected] / +63 2 453 2375