TAX reforms are crucial for fostering economic growth, ensuring fairness and improving government revenue. By updating tax laws, governments can address changing economic conditions, promote investment and incentivize businesses.
The Philippines closed 2023 with a robust growth rate of 5.5 percent, outpacing the thriving economies of China, Vietnam and Malaysia. Building on this momentum, the country’s economy expanded by 5.8 percent in the first three quarters of 2024, positioning the Philippines as one of the fastest-growing economies in Asia.
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