The “uncompetitive business environment” in the Philippines has prompted two electronic companies to close shop in the country, according to an industry group leader.
The second package of the government’s Comprehensive Tax Reform Program, Create proposes to reduce the corporate income tax from the current 30 percent to 25 percent this year, and further trim it by 1 percentage point starting in 2023 to reach 20 percent in 2027. Citing an earlier estimate of his group, Lachica warned an employment loss of 10 percent, equivalent to 38,000 direct and 266,000 indirect jobs, after the first year of the incentives’ removal under the bill.“grandfathering” of current investments in the Philippine Economic Zone Authority and other investment promotion agencies.
Without competitive incentives compared to those Vietnam and other Southeast Asian countries, Lachica cautioned there would be a small probability of business expansions in the Philippines.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why the lockdown is a unique time for Unique Salonga – The Manila TimesWhen the nation went on a lockdown, people took the extra effort to stay home as much as possible for everyone’s safety. The same also happened for Unique Salonga, who is currently an artist for Coke Studio this ongoing season. He says he saw the lockdown as an opportunity to continue using music to help uplift people’s spirits. […]
Source: TheManilaTimes - 🏆 2. / 92 Read more »
DENR: Dolomite in Manila Bay will not totally wash outMANILA, Philippines — The crushed dolomite laid over a portion of Manila Bay will not totally wash out despite strong waves, the Department of Environment and Natural Resources (DENR) assured Just partially?
Source: cebudailynews - 🏆 8. / 71 Read more »
More crushed dolomite needed to complete Manila Bay ‘white beach’ – DENR execMANILA, Philippines — Additional crushed dolomite is needed to finish the Manila Bay "white beach" project, an official of the Department of the Environment and Natural Resources ConsINQ While the country continues to suffer due to no more budget. ConsINQ wtfffff 👀 ConsINQ Tigilan nyo na yang kalokohan na yan.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
EDM artist Jace Roque tries luck in the digital world – The Manila TimesTop EDM artist Jace Roque is one of the musicians who was forced to find a new way to make ends meet due to the pandemic. Since it is impossible to hold live events like concerts (which is a good source of income), Jace decided to try his luck in the digital world. A friend […]
Source: TheManilaTimes - 🏆 2. / 92 Read more »
‘Yellow Rose’ review; updates on Lennon album and Emily Ratajkowski – The Manila TimesReview: A Filipina singer with heart in ‘Yellow Rose’ Rosario “Rose” Garcia (Eva Noblezada) is a Filipina living undocumented in Texas, in Diane Paragas’ “Yellow Rose.” Rose lives with her mother, Priscilla (Princess Punzalan), at the motel where she works as a cleaner. When Rose goes to a concert with a friend, Priscilla is taken […]
Source: TheManilaTimes - 🏆 2. / 92 Read more »
Heat edge Lakers to keep NBA title bid alive – The Manila TimesORLANDO: Jimmy Butler’s triple-double propelled Miami to a 111-108 victory over the Los Angeles Lakers on Friday that kept the Heat alive in the NBA Finals. Butler scored 35 points with 12 rebounds and 11 assists and the Heat withstood a 40-point performance from Lakers superstar LeBron James to deny Los Angeles a title-clinching win […]
Source: TheManilaTimes - 🏆 2. / 92 Read more »