The House Ways and Means committee has approved the Corporate Income Tax and Incentives Reform bill, formerly known as the TRABAHO bill, which seeks to reduce corporate income tax rates and update the current fiscal incentives program.
A House panel approved on Wednesday the bill which seeks to reduce corporate income tax rates and update the current fiscal incentives program.
The CITIRA bill, the second package next to the Tax Reform Acceleration and Inclusion law, aims to lower the corporate income tax rate from 30 percent to 20 percent in a period of ten years. The proposed measure also aims to modernize and promote a fair and accountable tax incentive system, which would also help attract more foreign investors.
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