The Philippine government is strongly urged to fast track the Senate concurrence of the Foreign Account Tax Compliance Act (FATCA) and lift or amend the Bank Secrecy Law to leverage the country’s position in combating financial crime, and promote transparent, effective reporting system, and stability in the country’s banking sector.
The Philippine government is strongly urged to fast track the Senate concurrence of the Foreign Account Tax Compliance Act (FATCA) and lift or amend the Bank Secrecy Law to leverage the country’s position in combating financial crime, and promote transparent, effective reporting system, and stability in the country’s banking sector.
The European Union (EU) hinted that compliance with the conventions set under its Generalized System of Preferences+ (GSP+) will be a strong determinant to the successful outcome of the proposed bilateral free trade agreement (FTA) between the two countries.
This was raised by Luc Véron, ambassad
Published June 23, 2021, 7:00 AM
There has been strong interest from American firms to invest in the Philippines from manufacturing, infrastructure and services, according to the top official of the Board of Investments (BOI).
At the virtual Philippines-US Make It Happen In the Philippines Business Dialogue, BOI Managing Head Ceferino S. Rodolfo said they received lots of interest from American firms following the passage of the CREATE Law after two years of waiting. The CREATE Law is seen as a game changer in the race to attract foreign direct investments because of its competitive tax and fiscal incentives regime.
“It’s well worth the wait. In terms of private sector interest from US companies, we have seen strong interest,” said Rodolfo adding “There’s been strong interest from American companies from a range of manufacturing, all the way to infrastructure and services.”
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