Many jobs at risk over Trabaho billhome/Business/Top Business/Many jobs at risk over Trabaho billMany jobs are at risk of displacement in the garment industry due to the Tax Reform for Attracting Better and Higher Quality Opportunities (Trabaho) bill, the Confederation of Wearable Exporters of the Philippines (Conwep) said. The study was made last year upon the request of the Senate Ways and Means Committee to determine the impact of Trabaho bill in case it would be enacted into law. Trabaho bill, which is the second package of tax reforms, aims to lower corporate income tax (CIT) from 30 percent to 20 percent in 10 years. Earlier, Conwep said the clothing industry has been struggling already with the uncertainties brought about by Trabaho bill, prompting them to “drastically” cut their selling prices down to cope with competition. In 2018, Conwep said apparel exports skidded 16 percent to $928 million from $1.099 billion in 2017.

Source: Manila Times July 21, 2019 16:14 UTC