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!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
