PRESIDENTIAL INVESTMENT adviser Frederick D. Go said he is making it a priority to address investor concerns by implementing reforms such as restoring the power of the investment promotion agencies (IPAs) to grant incentives and simplifying value-added tax (VAT) rules for locators in economic zones.
The head of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) on Wednesday said he is spearheading reforms and programs to make sure the Philippines becomes globally competitive.
In particular, Mr. Go said his office is working with Congress to tweak provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law and Tax Reform for Acceleration and Inclusion law.
“Both laws have generated serious concerns for foreign direct investors, particularly exporters, and I have put this on top of our to-do list. So, we are working with Congress to bring back certainty in our laws, providing confidence to investors of predictability and firm implementation of policies that protect their investments,” he said at the Ease of Doing Business Briefing organized by the Anti-Red Tape Authority.