Think tank lauds Train 1, bucks Package 2
THE Foundation for Economic Freedom (FEF) lauded the passage of Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (Train) Act, saying it increased government revenues and enhanced investors’ confidence in its fiscal stability and capacity to finance its “Build Build Build” infrastructure program.
“Train will enable the government to invest in health, education, and infrastructure without borrowing,” FEF President Calixto Chikiamco told The Manila Times.
He said, however, that he was against the second package of the government’s Comprehensive Tax Reform Program, informally called Train 2.
“I am for rationalizing fiscal incentives, but not [in]the way Train 2 does it,” the think tank chief said without elaborating on the package’s provisions he disagreed with.
His remarks are similar that of the Philippine Association of Multinational Companies Regional Headquarters Inc. (Pamuri), which warned that Package 2 would leave thousands jobless.
Some provisions in the package include removing incentives to foreign investors and gradually reducing corporate income tax from 30 percent to 25 percent.
Some fear that if Package 2 is approved, the operations of multinational firms would be moved to such countries as India, Malaysia, and Vietnam.
The post Think tank lauds Train 1, bucks Package 2 appeared first on The Manila Times Online.