The Philippines Department of Finance has announced that under the proposed corporate income tax (CIT) reform, tax incentives will be provided for schools and hospitals. In particular, non-profit private schools and hospitals that perform well and adhere to high standards of service will continue to enjoy the reduced tax rate of 10%. The legislation for the reform, known as the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) Act, is currently before the House of Rep…