Bernardo M. Villegas
  Page last updated at 07:45 Asia/Manila, Tuesday, 09 May 2017 PH
Attracting Regional Headquarters of MNCs
           The Tax Reform for Acceleration and Inclusion program proposed by the Department of Finance (DOF) is a very laudable initiative and should be strongly supported by the Philippine Congress.  The major attractions of the package are the decrease in tax rates for corporations and for the middle-income households, who are the strong foundation of our consumption-driven economy and the more progressive approach to increasing the taxes on the higher-income households, on affluent consumption, and on highly profitable industries that no longer need tax incentives or subsidies.  The reforms have to be taken in the context of a total approach to integral human development or sustainable and inclusive economic development which includes, among others, implementing the Executive Order on Freedom of Information; significantly cutting red-tape, increasing ease of doing of business, beginning with longer validity of passport and licenses; bringing down internet cost and/or raising internet speed; increasing coverage and benefits of PhilHealth; increasing amount  of conditional cash transfer (4P program) coupled with training and livelihood programs; reducing traffic congestion and enhancing the railroad system; and addressing crime and drugs.