“We should consider lowering our income tax rates to equal Hongkong or Vietnam or Thailand. One of the major reasons why many locators do not like the Philippines is because they would have to pay their executives more takeout to equalize take home pay. For example, Hongkong has a tax rate of 17% while our marginal income tax rate is 32%.”

— Francis Escudero

2009, Speech: The Socio-Economic Peace Program of Senator Francis Escudero

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Francis Escudero 354

Filipino politician 1969

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Francis Escudero 354

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