Japanese business group chastises MWSS

The Japanese Chamber of Commerce in the Philippines (JCCP) expressed their dismay over the recent decision of the Metropolitan Waterworks and Sewerage System (MWSS) to disallow water concessionaires to recover their corporate income tax.

In a letter addressed to Trade and Industry Secretary Gregory Domingo dated September 26, JCCP President Takashii Ishigami said that the move by the MWSS is a “total disregard to the contractual rights and intent” of the parties involved, and said that the government’s failure to uphold the sanctity of contracts will have a negative effect on the country’s investment climate.