Some such people may not even be registered. Corporate income tax contributed between 3.5% of GDP in the Philippines and 9% of GDP in Malaysia in 2012. While a declining corporate income tax rate is a worldwide trend, the issue seems to be exacerbated in South-East Asia with ASEAN integration. Since the adoption of the ASEAN Economic Community Blueprint in 2007, several countries have further reduced their corporate income tax rate and expanded tax incentives and exemptions for investors (see table 2.1).