PEZA chief to seek audience with Duterte on fiscal perks

PEZA chief to seek audience with Duterte on fiscal perks

The Philippine Economic Zone Authority director-general Charito Plaza will ask President Rodrigo Duterte to reconsider the lifting of tax incentives given to investors. Charito Plaza said the removal of tax incentives may discourage Chinese firms from transferring their manufacturing base to the Philippines. Under the Tax Reform for Attracting Better and High-Quality Opportunities or Trabaho bill, certain tax perks will also be cut. Once passed, Plaza said foreign investors will be forced to relocate to other countries. Plaza said Chinese investors want to take advantage of the export incentives the Philippines enjoys with the United States under the Generalized System of Preferences (GSP) scheme. She said the ongoing trade war between United States and China is hurting Chinese investors, prompting them to relocate to the Philippines.

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