New tax reform to affect 5,000 prime positions in BPO
About 5,000 top caliber and financially rewarding jobs in a subsector of the Philippines business process outsourcing (BPO) industry will be adversely affected if the new tax reform bill pushes through. The Philippine government under Duterte’s administration seeks to increase consumption taxes and remove incentives enjoyed by BPO companies, including the 15-percent preferential tax rate. According to a Philippine Inquirer report, there is a real concern the country may potentially lose a lot of top Filipino talent to other countries with lower income tax rates like Singapore, Malaysia, and Hong Kong. The same source pointed out that the preferential treatment was originally made in order to attract and retain top-tier talent.
Related news
- Government to outsource cybersecurity services · 7 Aug
- Look beyond BPO success – Habito · 4 Aug
- US democrats push for new outsourcing tax · 3 Aug
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
