Business Groups Seek Hybrid Work and Efficient Taxes For Inclusive Growth in the Philippines
Local business groups and foreign chambers called out the 19th chamber to enact 24 legislative measures such as reforms to systemize hybrid work arrangements, faster internet connection, and easier and digitized tax payments.
The private sector has sent a letter pushing the current administration to pass the measures focused on authorizing inclusive growth for the Philippines.
Such includes a bill urging for open access to data transmission, which aims to improve internet connectivity in the country through fair and open competition in the market.
On the other hand, the “Ease of Paying Taxes” Bill seeks to streamline tax payments. Promoting online payments is anticipated to create a more convenient and easier government transaction.
In addition, the business groups pushed for the enactment of the following measures:
- Liberalization of foreign equity restrictions in the Constitution
- Hybrid and flexible work schedules
- Freedom of information
- Property valuation and assessment reform
- Capital and financial tax reform
- Build-Operate-Transfer Law amendments or Public-Private Partnership Act.
The business groups and foreign chambers also urged to prioritize amendments to the Bank Secrecy Law, national unemployment insurance, creation of a Department of Disaster Resilience, E-Commerce Act amendments, Pandemic Protection Act, Holiday Rationalization Act, creation of Philippine Airports Authority, and Philippine Ports Authority Charter Amendments.
Other measures were highlighted, such as the Intellectual Property Code amendments, Philippine pension system portability and strengthening, apprenticeship program reform, easing agricultural land ownership, repeal of Commonwealth Act 138 (Flag Act), International Maritime Trade Competitiveness Act; and Satellite-based Technologies Promotion Act.