A business group is backing the Department of Finance’s bid to pass the “Corporate Recovery and Tax Incentives for Enterprises” or the Create Act, which the government said would help businesses recover amid the coronavirus disease (Covid-19) pandemic.
Sen. Pia Cayetano on Wednesday sponsored on the Senate floor a bill seeking a definite end to tax perks given to investors in the Philippines, a priority of the Duterte government.
Central bank data show equity foreign direct investment (FDI) from Japan posted a net outflow of $103.09 million from January to June, the biggest net outflow on comparable record since 2005. A net outflow of FDI indicates that more investments left than entered.