The government should retain incentives given to economic zone locators to encourage investments in the Philippines, the president of a Japanese business group said. Tax reforms proposed by government include a 12-percent value-added tax on local purchases of export-oriented companies, which official have said is necessary to help fund the ambitious “Build Build Build” infrastructure program. “We are supporting this tax reform but we also wish to maintain PEZA incentives. We really want to maintain the current PEZA incentives that we are receiving so any changes, we don’t want that,” Shiraishi said. The Senate version of a tax reform bill already passed by the House of Representatives retains the incentives, which Shiraishi said had tempered investor concerns.

Source: Manila Times October 19, 2017 18:00 UTC