Lazada Philippines aff_i?offer_id=3127&file_id=94990&aff_id=150634 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News

normal_post - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News Author Topic: TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES  (Read 170 times)

MIKELIGALIG.com

  • FOUNDER
  • Webmaster
  • *****
  • avatar_1382_1499847132 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News
  • Posts: 22898
  • medal1 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily Newsmedal2 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily Newsmedal3 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News
  • NEED A WEBSITE? email me: info@mikeligalig.com
    • Share Post
xx - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News
TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES
« on: March 17, 2018, 05:50:38 PM »
REP. CIRIACO “ACOY” S. CALALANG
KABAYAN Party-list
Member, Good Government & Public Accountability, Tourism,
Bases Conversion, Public Order & Safety, and 12 other committees
Mobile: 0917-729-2437

TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES

Rep. Calalang says Vietnam and Indonesia are better at attracting foreign investments

I congratulate the economic team of President Rodrigo Roa Duterte on the record-level foreign direct investments of $10 billion for the whole year of 2017. May this historic achievement spur all the economic agencies to triple their efforts.

We have a lot of catching up to do. We need to do attract foreign direct investments in new and varied ways.

Compared to some of our neighbors in Southeast Asia, the Philippines’ $10 billion in FDIs is but a fraction of their FDIs. For example in 2017, Vietnam had $35.88 billion while Indonesia attracted $32 billion. (https://goo.gl/Z6YQ8D and https://goo.gl/289Xvu )

New studies and analyses have shown that the old ways of enticing FDIs using fiscal incentives or tax breaks are no longer effective and even detrimental to the national economy.

The perennial complaints of prospective foreign investors and investors who withdraw their investments are: red tape, workers’ productivity,  personal security of their expatriates, political stability, peace and order, and inconsistency of economic policies with every change of president and local government executives.

On red tape, Congress worked on this issue by passing its bills on ease of doing business. I hope the executive department implements well.

On workers’ productivity, I believe foreign investors are willing to pay high wages but they expect high productivity in return, which is what is happening in the BPO sector. The BPO sector is vibrant in our country because employees are well-motivated in the work. The problem with some workers in other sectors is that as soon as they become regular employees, they become lazy and less productive. This does happen and I have seen it happen in government agencies and in some private businesses.

Street crimes are concerns of foreign investors because the personal security of their employees is on the line, while white collar crimes at work are risks to business operations.

The quintuplets of political stability, peace and order, graft, and corruption remain issues in areas where communist rebels, separatists, bandits, and private armies operate, and where corrupt and incompetent officials are elected or appointed to office.

Lastly, foreign investors want to invest long-term but their investment plans and operate are upset when government policies shift whenever a new president, governor, or mayor is elected.

These are the problems that prevent us from attracting foreign investments at the levels of Vietnam, Indonesia, and other neighbors in Southeast Asia.

Finance Secretary Sonny Dominguez and his team at the DOF have the highly difficult task of rationalizing the fiscal incentives government gives to businesses.

I am open to their receiving soon their briefing on how our country’s labyrinth of fiscal incentives can be much less complicated and make the Philippine economy more attractive to foreign investments for the right non-fiscal reasons.  (END)

REFERENCES:
https://think-asia.org/bitstream/handle/11540/7480/pidsdps1726.pdf?sequence=1
http://www.oecd.org/mena/competitiveness/38758855.pdf
https://itep.org/tax-incentives-costly-for-states-drag-on-the-nation/
https://www.theigc.org/wp-content/uploads/2014/09/Tuomi-2012-Working-Paper.pdf
http://www.hbs.edu/faculty/Publication%20Files/98-078_5de6b935-51b9-42c9-a741-ce36da60073d.pdf
https://www.adb.org/sites/default/files/publication/28387/economics-wp168.pdf
http://unctad.org/en/Docs/iteipcmisc3_en.pdf

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=89356.0
Romans 10:9-10
"If you declare with your mouth, Jesus is Lord, and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved."

personal015320100 - TAX LAWYER-SOLON URGES SHIFT FROM FISCAL INCENTIVES - Philippine Daily News

pCloud Premium


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

xx
Solon urges Kerwin Espinosa to bare all

Started by MIKELIGALIG.com on Philippine Daily News

0 Replies
327 Views
Last post November 20, 2016, 05:18:44 AM
by MIKELIGALIG.com
 

Booking.com

Latest Topics

On Charter Change by islander
[December 13, 2018, 01:23:26 PM]


9 Recycling Tips That Everyone Should Know by islander
[December 13, 2018, 01:07:38 PM]


When pigs fly from Davao City by islander
[December 10, 2018, 06:58:11 PM]


The marriage of business and politics by islander
[December 10, 2018, 06:51:43 PM]


Live the questions now by MIKELIGALIG.com
[December 07, 2018, 07:33:57 PM]


The Du30 Death Squads by islander
[December 06, 2018, 10:35:48 PM]


No to designer babies! by islander
[December 03, 2018, 06:22:38 PM]


Car-raan by islander
[December 03, 2018, 06:10:58 PM]


Fatal Accident in Albur, Bohol by islander
[December 03, 2018, 06:09:55 PM]


International Airport in Bohol by MIKELIGALIG.com
[December 02, 2018, 11:04:38 PM]

SMF spam blocked by CleanTalk
pCloud Premium
Powered by SMFPacks SEO Pro Mod | Sitemap
Mobile View
SimplePortal 2.3.7 © 2008-2018, SimplePortal