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IPO tax removal sought to spur capital market

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MANILA -- The fourth round of tax reforms seeks a removal of taxes on initial public offerings or IPOs to encourage more companies to list in the stock market, a finance official said in a pitch to la

wmakers Wednesday.

"Instead of taxing them, why don't we encourage them to participate?" Chua told the Senate tax-writing body. The Philippines is the lone Asian economy that taxes IPOs, according to a study conducted by the National Tax Research Center in 2011.

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