AmCham says tax reform a win-win for businesses, employees
Both sides get more bang for the buck under this proposal.
The American Chamber of Commerce of the Philippines (AmCham) has thrown full support behind the comprehensive tax reform program put forward by the Department of Finance (DOF), saying that it meant huge gains for both employers and workers.
AmCham described the government’s tax plan as “fair and progressive,” while also supporting investors and public infrastructure. The measure seeks to reduce personal income taxes for low- to middle-income brackets, while corporate taxes will also be down to 25% from 30% currently.
“Our employees deserve to have the real purchasing power of their earnings returned to them in recognition of their labor,” AmCham said in a statement sent by the DOF.