Inferior PH taxation

The European Chamber of Commerce of the Philippines expressed concern that the Philippines may find itself at a disadvantage when the Asean integration fully kicks in, if it fails to adjust its taxation system.

Chamber president Michael Raeuber said the Philippine government must adjust the tax imposed on individuals and companies to ensure the country’s competitiveness.

“We have to bring the Philippines forward. The government now has limited time to approve economic legislation and institute reforms.  If we do not address the issue now, companies will be going to Vietnam and not here,” Raeuber said.