Cut the Corporate Income Tax from 30% to 20%

Cut the Corporate Income Tax from 30% to 20%

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Karl Pesigan started this petition to Filipino citizens

CITIRA Bill will help lots of Filipino employees to gain more income without worrying on spending it mostly on the corporate income tax (CIT). CITIRA is a must for our country, because there lots of people who works really hard each and everyday just to gain income because there are lots of expenses in our daily lives, they spend most of their time at work and put blood, sweat and tears in their work. But the sad reality is the income that they are working hard for is mostly going to the corporate income tax, 30% of their income will automatically go there instead of they could just have used or spent it to much important expenses but they have no choice because it’s a tax. But with CITIRA Bill, the 30% that are taken away from their normal income will just be 20% meaning more income for them, they can enjoy more the income they work hard for and they will work harder.In short, revenue losses will be avoided. According to Wolfe (2019), if income taxes are lowered, people may be encouraged to work harder, thereby increasing productivity. And, if corporate tax rates are lowered, businesses may be encouraged to produce more products and offer more services.

It is therefore conclude that CITIRA Bill really have a lots of benefits to us as a whole and as an individual. CITIRA helps the country to attract more investors locally or internationally and giving us the chance to improve our economy and our Gross Domestic Product and our relationship with other countries, it also helps small and medium businesses to grow and to gain more revenue and help them also to balance their expense to their employee and to the tax to be paid, lastly CITIRA helps individual to gain the income they deserve, the income that will equal the hard work and effort they exerted, in short, it helps individual to avoid the revenue loss. The action that we are taking is this, what we are doing right now is our action, the content of this petition is our action, because our action is to persuade whoever read this agree to make this billl a law because it will help a lot of people at the same time it will help our country too that is why we will made a petition in Change.org so that people can sign their petition their if they want to make this a law, we are making changes one step at a time.

 

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