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Philippines mulls income tax cuts

The Philippine’s incoming Finance Minister, Carlos Dominguez, says he is open to diversifying the country’s borrowing to fund infrastructure and will push for a cut in income taxes. Boosting infrastructure will be the priority for the country’s new government, along with addressing the horrific traffic jams that have weighed on economic growth. The new government is also considering cutting income tax and imposing new taxes on alcohol and cigarettes.

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