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‘Sulong Pilipinas,’ the annual consultative forum held by the Duterte administration with the private sector, will focus on tax reform and the ‘Build, Build, Build’ infrastructure program this year, with the last two legs to be held at the Clark Freeport Zone in Pampanga and in Davao City on Nov. 26 and 28, respectively. The Read More

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Small and medium enterprises (SMEs) from Visayas and Luzon have rallied behind the Duterte Administration’s proposed reforms in corporate taxation, which, they said, would enable them to expand their businesses, raise their employees’ salaries and hire more workers. Edward Du and Alexander Ang, regional governors of the Philippine Chamber of Commerce and Industry (PCCI) for Read More

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Rather than make an 11th-hour appeal to President Duterte to reconsider his own directive supporting corporate income tax (CIT) and fiscal incentives reform that will benefit more than 99 percent of businesses, the Philippine Economic Zone Authority (PEZA) should explain to Filipino taxpayers why it insists on subsidizing at their expense the multibillion-peso dividends and Read More

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Qualified enterprises can benefit from an improved set of investment incentives under the second package of the Duterte administration’s comprehensive tax reform program (CTRP) that may bring down their tax payments while creating jobs or meeting export targets, according to the Department of Finance (DOF). Finance Undersecretary Karl Kendrick Chua said that Package 2 offers Read More

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The Department of Labor and Employment (DOLE) supports the proposed reforms in corporate taxation and fiscal incentives under the second package of the Duterte administration’s comprehensive tax reform program (CTRP), as this will sharpen the competitiveness of small and medium-sized businesses and will create more jobs, especially in the countryside. DOLE Secretary Silvestre Bello III Read More

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Foreign investors that are qualified and performing well have no reason to be worried over a pending bill in the Congress that seeks to reform the country’s convoluted corporate income tax (CIT) system because they will continue to enjoy incentives and an even better set of perks under the Duterte administration’s plan to make these Read More

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The lifting of the quantitative restrictions (QR) on rice imports in favor of tariffs will bring several benefits to the economy, among them, slashing the retail price of the food staple by as much as P7 per kilo and helping free some 730,000 Filipinos from poverty, according to the Department of Finance (DOF). In an Read More

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The Department of Finance (DOF) said that while the government recognizes the value of tax incentives in business, such multibillion-peso worth of annual perks must not be given indiscriminately at the expense of building up the country’s more powerful attractions as an investment hub, notably its skilled and hardworking talent pool and an ambitious infrastructure Read More

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The Department of Finance (DOF) has proposed improvements to the Tax Incentives Management and Transparency Act (TIMTA) to enable the government to make public the list of corporations that receive tax incentives and how much such perks are costing Filipino taxpayers each year in terms of foregone revenues. Finance Undersecretary Karl Kendrick Chua said this Read More

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The Department of Finance (DOF) remains optimistic that lawmakers will consider the long-term benefits of the Duterte administration’s comprehensive tax reform program (CTRP) by giving their stamp of approval to its remaining packages ahead of the election season. Finance Secretary Carlos Dominguez III said the current tax setup needs to undergo sweeping reforms, particularly the Read More