Majority of micro, small and medium enterprises (MSMEs) in the country are supportive of the Tax Reform for Attracting Better and High-Quality Opportunities or TRABAHO bill currently pending in the Congress, the Department of Finance (DOF) has reported during a recent Cabinet meeting in Malacañang.
Read MoreWASHINGTON DC—Finance Secretary Carlos Dominguez III has told leaders of the American business community that now is the “best time” for them to invest more in the Philippines so they could maximize the benefits of participating in a robust economy poised to become Asia’s next economic powerhouse.
Read MoreMore than 1,000 entrepreneurs, mostly representing small and medium enterprises (SMEs), were consulted by the government on how the government can sustain the economy’s high growth and make it more inclusive, during the series of regional “Sulong Pilipinas” workshops held last month, the Department of Finance (DOF) said.
Read MoreThe Duterte administration’s tax reform package that aims to lower the corporate income tax (CIT) and overhaul the country’s “convoluted” fiscal incentives system is projected to generate some 1.4 million jobs, mostly in small and medium enterprises (SMEs), over the next decade and create a business environment conducive to inclusive growth, according to Finance Secretary Carlos Dominguez III.
Read MoreDAVAO CITY—A consolidation of the actionable recommendations submitted by the private sector in the four regional “Sulong Pilipinas” workshops conducted in Luzon, Visayas and Mindanao in November yielded proposals ranging from improving agricultural output and simplifying loan requirements for small and medium enterprises (SMEs) to enhancing peace and order measures, and stricter profiling of the government’s cash transfer or social protection beneficiaries.
Read MoreDAVAO CITY—Finance Secretary Carlos Dominguez III has said that spinning off the annual “Sulong Pilipinas” consultative conference into regional forums across the country underscores the importance given by the Duterte administration to the business sector in its pursuit of high and inclusive growth.
Read MoreCLARK FREEPORT—The Duterte administration has delivered on several key recommendations two years ago by the private sector to help the government supercharge the economy and fulfill its goal of inclusive growth, notably on improving the ease of doing business, implementing a national identification (ID) system and instituting tax reform, Finance Secretary Carlos Dominguez III said here Monday.
Read More‘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.
Read MoreSmall 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.
Read MoreRather 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 profits of large corporations that do not actually need such perks, a Department of Finance (DOF) official said.
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