Tech firms support government’s second tax reform package
Although some agencies and outsourcing groups have warned about the ill-effects of removing tax incentives, three tech firms in the Philippines have expressed support for the second package of the government’s tax reforms. The Philippine Software Industry Association (PSIA), online hiring platform Kalibrr, and software startup OrangeApps have backed the government’s Tax Reform for Attracting Better and High-Quality Opportunities (TRABAHO) version of the second tax package. The second package seeks to rationalize fiscal incentives and bring down the corporate income tax rate to 25% from 30%. PSIA President Jonathan De Luzuriaga, who is also the founder of Spring Valley Tech, said TRABAHO was a step in the right direction. Kalibbr co-founder and CEO Paul Rivera also stressed that businesses come to the country to avail of talent and not incentives. This was seconded by Gian Javelona, CEO of OrangeApps, who said tech firms do not need incentives to succeed.
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