Biz groups push 27 measures

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Ahead of next week’s fifth state of the nation address of President Duterte, 14 local and business chambers have put forward 27 legislative measures that they said lawmakers should consider in the 18th Congress.

The Philippine Business Groups (PBG) and the Joint Foreign Chambers (JFC) have written President Duterte, Senate President Sotto, and House Speaker Cayetano to reaffirm their support for 27 business and economic reform measures which they said can generate substantial inclusive growth while generating jobs, reducing poverty, improving national competitiveness, and supporting economic recovery and higher GDP growth in 2021 and thereafter.

The same measures were pushed in July 2019 in letters to the executive and legislative branches of the government.

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But with the new coronavirus disease 2019 creating an urgency to move ahead to enact reforms, the PBC-JFC said they resubmitted their recommendations to the president and Congressional leaders.

Eight of the reforms were included in the President’s fourth SONA while 19 are included
in the legislative agenda of the Philippine Development Plan’s Midterm Update.

However, when the regular session of Congress adjourned, only 9 of the 28 reached at least second reading approval in either House or Senate.

The 27 recommended legislative measures, in order of priority, include: Public Service Act amendments; Tax Reform Package 2: CITIRA/CREATE3; Foreign Investment Act amendments; Retail Trade Act amendments; Apprenticeship Program Reform; Build Operate Transfer Law amendments; Freedom of Information Act; Bank Secrecy Law amendments; foreign equity restriction amendments to the Constitution; Tax Reform Package 3: property valuation and assessment; Tax Reform Package 4: capital income and financial taxes; Open Access in Data Transmission Act; Water Department Act; Farm Entrepreneurship Act; PEZA Act amendments; Agri-Agra law amendments; Holiday Rationalization Act; National Disaster Risk Reduction and Management Authority Act; National Land Use Act; National Traffic and Congestion Crisis Act; Philippine Contractors Accreditation Board amendments; PhilPorts Act (amend PPA Charter);Water Regulatory Commission Act; CAAP Act amendments; CA 541 amendments; National Transportation Safety Board Act and; Philippine Airports Authority Act

While the signatories support comprehensive tax reform overall, they said some elements of the Tax Reform Package 2 bills have created issues for many firms, most acutely the termination of the 5 percent tax on gross income earned GIE benefit for exporters.

“We support the reduced CIT and fair treatment of foreign investors who have chosen to locate in the Philippines,” the groups said.

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