This is because our mayors can delay or refuse to issue the annual business permits to businessmen and entrepreneurs and there is nothing the applicant can do about it.
The omnipotence of Philippine mayors surfaced during the hugely successful Manila Overseas Press Club “Investment Night” with Secretary Deck Go, the economic czar or Special Assistant to the President for investment and economic affairs, Tuesday night at the Fairmont Makati. Guests included diplomats, senior journalists, executives of the nation’s leading companies and groups SM Investments Corp., Ayala Corp.
Third, the ease of paying taxes law modernizes and simplifies tax administration while strengthening taxpayer rights. Go is working on a CREATE More bill to encourage foreign direct investments by restoring the right of investment promotion agencies like the BOI and PEZA to grant tax incentives to foreign direct investors; simplifying the VAT and putting a sunset clause to income tax holidays while continuing with duty-free importations, VAT exemptions or VAT zero ratings.
Why did Deck join government? After his business success, he says: “I want to do something good for my country.” Agriculture in tiny Taiwan, with its land area of nearly 36,200 square kilometers just over a tenth that of the Philippines, will make the P20-a-kilo rice administration drool with envy.
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