APART from debating the national budget for next year, the most important piece of actual work being done in the legislature right now is the processing of Package 2 of the Comprehensive Tax Reform Program (CTRP). A version of the tax reform bill has already been passed by the House of Representatives and the Senate version is currently being debated; it will likely pass as well. The whole idea of economic zones is to provide areas where foreign-owned businesses are offered certain inducements to set up shop as a way to catalyze local economic growth. BPOs are not without some value, but they are poor candidates for economic zone location according to the most practical application of the concept. Creating a new economic zone for them by designating a single office building in an already highly economically developed area completely violates the clear spirit, if not the letter, of the soon-to-be tax reform law.

Source: Manila Times September 29, 2018 16:30 UTC