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April 22, 2021 | 8:10 pm
THE DEPARTMENT of Trade and Industry (DTI) said it has been promoting the new tax regime to attract investment from Japanese manufacturers of auto wiring harnesses.
The DTI held a virtual roundtable with six Japanese companies Tuesday for potential expansion projects and new operations in the case of companies that have not decided to locate in the Philippines as yet.
Some of the companies “are still completing their expansion and diversification plans,” DTI Special Trade Representative Dita Angara-Matha said in a statement Thursday.
Wiring harness manufacturing qualifies for incentives like income tax holidays under the recently signed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, Trade Undersecretary Rafaelita M. Aldaba said.