Euro chamber sees potential challenges with TRAIN 2


Posted at Aug 01 2018 04:23 PM | Updated as of Aug 07 2019 04:06 PM

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MANILA - The second package of tax reforms being pushed by the government presents potential challenges to foreign investors in the, the head of the European business lobby said on Wednesday. 

The second package of the Tax Reform for Acceleration and Inclusion TRAIN 2 may remove incentives for multinationals located in economic zones, said Guenter Taus, president of the European Chamber of Commerce in the Philippines. 

Taus had previously argued against the removal of the tax incentives saying this could prompt foreign businessmen to move to other Southeast Asian countries. 

"Let's wait and see what the final version is, and we reserve our judgment until then," Taus said about TRAIN 2 in an interview with ANC's Market Edge.