Top Philippine Promoter Tries to Soothe Investors Spooked by Tax
- Economic chief vows to protect tax perks in existing contracts
- Philippines attracts least direct investment in Southeast Asia
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The woman tasked to lure investment to Philippine economic zones is seeking to calm investors spooked by a government proposal to scale back tax incentives.
The Finance Department plans to take away tax breaks given to businesses, valued at over 300 billion pesos ($5.8 billion) a year or about 2 percent of gross domestic product.