Senator Juan Edgardo “Sonny†Angara, chair of the Senate committee on ways and means, said that fiscal incentives granted to export-oriented enterprises should be maintained but there must be a sunset clause to incentives granted to prospective investors.
The reduction of income tax rates for both individual and corporate taxpayers will not be achieved within the term of President Benigno S. C. Aquino III, Senator Juan Edgardo M. Angara said on Tuesday, citing pleas from some agencies to go slow on tax cuts.
As member countries of the Association of Southeast Asian Nations (Asean) implement regional economic integration within the year, Cebu exporters are highly encouraged to continue tapping the domestic market, says international furniture designer Kenneth Cobonpue.
Carrying on its intention to become one of aeronautical sector’s references in the Philippines and Asia, PhilJets Group has just joined the prestigious aviation association, based in China: ASBAA, the Asian Business Aviation Association.
The government expects Manila’s ports to be able to handle increased transactions this year given measures that have been put in place to address congestion.
The trade-facilitation pact that the Philippines is set to approve must be coupled with broader measures to ease trade, such as the improvement of the country’s infrastructure, according to a lead economist at the Asian Development Bank (ADB).
Business groups have remained skeptical of claims made by the government that operations at the port of Manila have "completely normalized" and that congestion has been resolved.
Philippine infrastructure still lags behind in Asia due to lack of long-term planning, according to industry players gathered at the 4th Annual Arangkada Forum held Wednesday, March 3.
The key highlights of the 7th edition of SEA-EX was the three-day conference within the show that featured important themes related to the marine industry in the Philippines. The expo brought in international and local speakers to share their insights on a variety of topics: (1) promoting the Philippines as a Mecca for marine tourism; (2) developing the country'ÂÂs boat manufacturing industry; and (3) sustainable development and protecting the Philippines' marine biodiversity for ecotourism.
The Philippine government has made progress in acting on recommendations of the Joint Foreign Chambers (JFC) to increase investments in the country, but it will have to undertake more reforms and sustain gains to allow the economy to accelerate by eight percent and make the growth inclusive.
The government last year made acceptable -- though gradual -- progress in acting on measures business groups prescribed in 2010 to prod the economy to a higher growth track that is sustainable, according to an annual assessment bared in a forum yesterday that also flagged emergent risks.
A senate committee has removed a provision in a proposed law that would have set an amount of tax incentives in the national budget.
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