Exodus planning has begun.
[pushAUX.com] PwC Philippines has declared that some of its clients operating in economic zones have started looking at “exit strategies” a move fueled by concerns on the Duterte administrations impending second tax reform package.
Alexander Cabrera, PwC Chair and Senior Partner
“They’re asking for advice. They’re looking for exit strategies (or) the most efficient way to exit the country…”
The good thing is that, as per PwC, none of their clients have actually migrated yet, but then expansions have been differed.
The Ironies of the Trabaho bill!
The Duterte administration has been aggressively pushing congress to pass the second tax reform package, which aims to:
- Lower corporate income tax
- Lower the tax incentives enjoyed by foreign investors (yes, BPO’s included)
President Rodrigo has pushed to accelerate the passage of the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill, which was already been given the seal of approval by the House of Representatives.
Who is in charge of balancing things?
PwC took a position of acceptance, in terms of “disruptive initiatives”, which the Trabaho bill represents, the group has cautioned that the government should know how to temper or ease the policy’s impact. pushAUX.com