A push has been made for the implementation of a range of tax subsidies for the Philippine Deposit Insurance Corp (PDIC) as part of a bill to amend its charter.
The move would ensure that the PDIC is able to fully cover the impending increase in deposit insurance, which is set to rise from PHP250,000 to PHP500,000 (USD10,530).
If the measures are passed the PDIC would be given a five year tax subsidy, to be followed by a series of ongoing tax exemptions.
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