The Joint Foreign Chambers of the Philippines, IT and Business Process Association of the Philippines, and Semiconductors and Electronics Industries in the Philippines Foundation Inc. met with Sen. Cynthia Villar earlier today to discuss the business groups' position on the Corporate Income Tax and Incentives Rationalization Act (CITIRA). House Bill No. 4157 or CITIRA aims to slash the corporate income tax from the current 30% to 20% at par with the regional average and at the same time rationalize the present incentives scheme availed by the private sector.