Ecozone authority bats for retention of incentives | ABS-CBN
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Ecozone authority bats for retention of incentives
Ecozone authority bats for retention of incentives
ABS-CBN News
Published Jul 24, 2018 04:13 PM PHT
MANILA - The Philippine Economic Zone Authority (PEZA) said Tuesday it would bat for the retention of present incentives even as it supports the government's drive for corporate tax reform.
MANILA - The Philippine Economic Zone Authority (PEZA) said Tuesday it would bat for the retention of present incentives even as it supports the government's drive for corporate tax reform.
PEZA director general Charito Plaza said locators in economic zones "plowed back" P11.60 pesos in taxes for every P1 in foregone revenues due to the fiscal incentives.
PEZA director general Charito Plaza said locators in economic zones "plowed back" P11.60 pesos in taxes for every P1 in foregone revenues due to the fiscal incentives.
While the incentives have resulted in foregone revenues worth P66.6 billion, the taxes paid by PEZA locators were worth P773.2 billion.
While the incentives have resulted in foregone revenues worth P66.6 billion, the taxes paid by PEZA locators were worth P773.2 billion.
"Performance-wise, our incentives are working so we will be appealing to Congress to check first on our performance," Plaza told ANC.
"Performance-wise, our incentives are working so we will be appealing to Congress to check first on our performance," Plaza told ANC.
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Package 2 of the Tax Reform for Acceleration and Inclusion seeks to rationalize fiscal incentives and bring corporate income taxes down to 25 percent from 30 percent.
Package 2 of the Tax Reform for Acceleration and Inclusion seeks to rationalize fiscal incentives and bring corporate income taxes down to 25 percent from 30 percent.
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