MANILA - President Rodrigo Duterte on Wednesday vowed anew to protect businesses in the country, as the government seeks to attract more investments to fund its social and infrastructure programs.
“Today, I send a message to the rest of the business community — this government will protect you and your investments and will ensure a level playing field for you to thrive in as long as you obey the laws of the land and safeguard the welfare of your people and general public,” Duterte said in his speech during the 30th anniversary celebration of Toyota Motor Philippines in Taguig City.
The President gave this message as the government sought to lower corporate income tax and rationalize incentives through the proposed second package of the Tax Reform for Acceleration and Inclusion law.
Several lawmakers appear cold towards sponsoring the bill, fearing that TRAIN 2 could result in the departure of investors and cost Filipinos their jobs.
The Philippines currently has one of the highest corporate income tax rates in Southeast Asia at 30 percent.