Jul 242017
Taxpayers are looking forward to the proposed tax reform of the Department of Finance (DoF). While the first package of the tax reform is now pending with the Senate, the DoF is starting to work on the second package. Both packages propose a reduction in income tax rates for both individuals and corporate taxpayers.
While the reduction in the income tax rate is a welcome change, I am still hopeful that the reform in the withholding tax (WHT) system is also included.