On Tax Reform Package 4 (Pifita)
(WorldNews Business)

The Tax Reform Package 4 is one of five tax packages that are intended to serve as the funding pillar to support the `Build, Build, Build` program, which is the economic centerpiece of the Duterte administration. This package originally referred to as the Capital Income and Financial Intermediary Taxation Act of 2019 under House Bill 8252, now renamed as the Passive Income and Financial Intermediary Taxation Act (Pifita), was introduced on 17 September 2018 by Representatives Estrellita Suansing and Horacio Suansing. The Committee on Ways and Means submitted a revised proposal, House Bill 8645, incorporating some minor revisions by Rep. Luis Raymund Villafuerte on 26 November. The...