normal_post - DTI defends tax breaks for investors   - Philippine Daily News Author Topic: DTI defends tax breaks for investors  (Read 372 times)

Lorenzo

  • SUPREME COURT
  • THE LEGEND
  • *****
  • avatar_240_1418794287 - DTI defends tax breaks for investors   - Philippine Daily News
  • Posts: 54226
  • medal1 - DTI defends tax breaks for investors   - Philippine Daily Newsmedal2 - DTI defends tax breaks for investors   - Philippine Daily Newsmedal3 - DTI defends tax breaks for investors   - Philippine Daily Newsmedal4 - DTI defends tax breaks for investors   - Philippine Daily Newsmedal5 - DTI defends tax breaks for investors   - Philippine Daily Newsmedal6 - DTI defends tax breaks for investors   - Philippine Daily News
  • Be the change you want to see in the world...
    • Share Post
xx - DTI defends tax breaks for investors   - Philippine Daily News
DTI defends tax breaks for investors
« on: December 15, 2007, 08:50:39 AM »
By MA. ELISA P. OSORIO

The Department of Trade and Industry (DTI) defended the tax breaks given to investors saying it is one of the best ways to attract foreign businessmen to locate in the country.

"Everyone in the region (ASEAN) is offering fiscal and non fiscal incentives. We need it to be competitive," Trade Secretary Peter B. Favila told reporters in an interview before he left for Europe.

According to Favila, the competition among ASEAN member nations for foreign locators is very stiff.

If the Philippines will not give similar perks as the ones given by Thailand, Vietnam, Indonesia and the other countries then foreign investors will have less reason to invest in the Philippines.

Meanwhile, Philippine Economic Zone Authority (PEZA) director general Lilia B. de Lima is not convinced there is a need for the House of Representatives to study the tax perks being given by the government.

"Let us not change the rules at the middle of the game," De Lima said in an interview.

Currently, there are four house bills dealing with fiscal rationalization.

All the filed bills agree that there is a need to rationalize/remove old incentives in numerous laws passed over recent decades which drain needed revenue, allow redundant incentives and have created a myriad of incentive-awarding authorities.

It likewise calls for limiting the awarding of income tax holiday (ITH), the need to monitor the application of incentives; and the need for an agency to promote investment, especially to foreign investors.

The Joint Foreign Chambers (JFC) has already expressed its opposition for the cancellation of ITH and has even appealed to President Arroyo to issue a directive making it clear that the government will continue giving ITH to spur economic activity in the country.

http://www.abs-cbnnews.com/storypage.aspx?StoryId=101162

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=7404.0



Share via facebook Share via linkedin Share via pinterest Share via tumblr Share via twitter

xx
Pnoy Wants Chinese Investors

Started by Ligalig-Mike on Philippine Daily News

4 Replies
745 Views
Last post September 08, 2011, 02:22:45 PM
by Lorenzo
 

Latest Topics

Poem by Charlie Chaplin by MIKELIGALIG.com
[Today at 01:33:06 AM]


Livelihood Expo by MIKELIGALIG.com
[Today at 01:01:18 AM]


Kahilom by MIKELIGALIG.com
[Today at 12:43:13 AM]


Handurawan by MIKELIGALIG.com
[Today at 12:40:41 AM]


Paghandom by MIKELIGALIG.com
[Today at 12:35:39 AM]


Spider Cat by balong
[Yesterday at 10:04:22 PM]


become a kung fu master by balong
[Yesterday at 09:55:48 PM]


The Bond Movies by balong
[Yesterday at 09:41:03 PM]


if i was RICH by balong
[Yesterday at 09:12:17 PM]


bitamin sa mata by balong
[August 18, 2019, 10:15:41 PM]

SMF spam blocked by CleanTalk
Powered by SMFPacks SEO Pro Mod | Sitemap
Mobile View
SimplePortal 2.3.7 © 2008-2019, SimplePortal