IT-BPM sector competitiveness likely to be affected by tax reform
The competitiveness of the information technology and business process management (IT-BPM) sector stands to be affected should the Philippine tax reform is implemented. Rey Untal, president of the IT and Business Process Association of the Philippines, said once the competitiveness of the IT-BPM sector is affected, it will also affect the growth trajectories outlined in Roadmap 2022. Untal clarified that his group does not oppose the tax reform bill in its entirety but is urging the government to keep the incentives of the industry. The bill seeks to take away the value-added tax (VAT) exemption of the IT-BPM sector to broaden the VAT base by imposing a 12% VAT on gross receipts.
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