by Ian Nicolas Cigaral with a report from The STAR/Louella Desiderio, 12 Nov 2019
MANILA, Philippines — The Philippines’ IT-BPM industry slashed its growth targets for the remainder of President Rodrigo Duterte’s term as the government’s plan to scale back tax incentives continues to fray the industry’s nerve.
The country’s IT-BPM sector now expects revenue to grow by around 3.5%-7.5% to a range of $29 billion-$32 billion by 2022.
The industry also forecast headcount growth to clock in at 3%-7% to around 1.42 million-1.57 million.
The new targets are lower than the sector’s original goal of generating $38.9 billion revenue and creating 1.8 million jobs by 2022.
The industry’s downwardly revised targets were announced at Tuesday’s IT and Business Process Association of the Philippines’ 11th International Innovation Summit.
Under Corporate Income Tax and Incentives Rationalization Act, or CITIRA bill, corporate income tax rate will be gradually reduced from 30% to 20% while tax perks, among Southeast Asia’s most generous, will be “rationalize”.
Business groups fear that the bill would force companies to cut jobs and would drive away foreign investors. —
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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