LOCAL BUSINESS GROUPS and foreign chambers urged the 19Congress to prioritize the passage of 24 measures, which include the liberalization of foreign equity restrictions, two tax reform packages, and amendments to a law that would allow hybrid work arrangements of economic zone locators.
A copy of the letter was also sent to the incoming House speaker, Senate president and key Cabinet officials.th“We look forward to working closely with the Marcos-Duterte administration and the 19th Congress to pursue the advocated reforms and others that will generate substantial impact in achieving inclusive growth through job generation, increased investment, poverty reduction, and improved global competitiveness,” the groups said.
Finance Secretary Benjamin E. Diokno earlier said he would push the passage of the remaining tax reform packages on improving real property valuation and simplifying financial taxation. The proposed property valuation and assessment reform seeks to broaden the tax base, while the capital income and financial taxes reform, seeks to simplify the taxation of passive income, financial services and transactions.