DOF says 112% hike in FDI pledges dispels fears over tax perk reform

A more than 100 percent increase in foreign direct investment (FDI) pledges in the first half of 2019 should dispel fear that investors overseas are being put off by the Duterte administration's bid to phase out tax perks of companies that no longer qualify for the incentives, according to a Department of Finance (DOF) official. In a statement, Finance Undersecretary Karl Kendrick Chua said the latest report of the Philippine Statistics Authority on long term equity commitments showed that dire predictions of investment flight in the wake of the expected passage of the Corporate Income Tax and Incentives Rationalization Act (CITIRA) were unfounded.   "It goes to show that t...

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