Business groups back passage of revised Corporate Tax Bill

Business groups are rushing the passage of a bill to help industries affected by the pandemic.

The Finance Department is appealing to congress to pass the Create Bill, formerly known as Citira which seeks to immediately lower the Corporate Income Tax.

In this measure, rates will be cut from the current 30 percent to 25 percent starting July this year.

The original measure proposed a reduction over the next 10 years.

We hear more about the Create Bill from Finance Assistant Secretary Tony Lambino.