Nordic investment warming to TRABAHO bill says NordCham
The Nordic IT-BPO sector in the Philippines is becoming more amenable to the move to implement the TRABAHO bill, according to Nordic Chamber of Commerce of the Philippines (NordCham) President Bo Lundqvist. Furthermore, the majority of its 120 members do not currently receive incentives from the government, other than those that are due by being registered with the Philippine Economic Zone Authority (PEZA). The new bill seeks to give 50% tax deduction for every job created. For training expenses, the investor will be granted 100% tax deduction. This is in lieu of the removal of the 5% tax on gross income earned. Lundqvist said that they have not monitored any decline in interest in the Philippines among businessmen from the Nordic region so far, and that the incentives to promote training will be largely welcomed. “The contract or commitment or commitment on labor, training, I don’t think anyone will object to that,” said Lundqvist.
