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. —
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
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
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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