On President Duterte’s certification of CITIRA (SBN 1357) as urgent

Statement of Senator Pia S. Cayetano

Chairperson, Senate Committee on Ways and Means (March 11, 2020)

I welcome President Rodrigo Duterte’s certification as urgent the Senate’s version of the Corporate Income Tax and Incentives Rationalization Act (CITIRA).

This Presidential directive underscores the urgency to forge a more fair, efficient, and accountable tax system – one that should foster a stronger economy amid the many challenges our country is facing.

The certification also affirms the position earlier taken by our top economic managers, finance experts, and various business organizations fully backing SBN 1357.

The Senate version of CITIRA is a result of the successive discussions our committee conducted with investors to address their concerns. And what we repeatedly heard from various stakeholders is that we need to pass this measure.

Like the President, I am hopeful that passing CITIRA will end all uncertainty, assure investors of a more level playing field in terms of doing business in the country, and lead to a brighter and more sustainable future for all Filipinos. #