Package 2 to affect PH competitiveness

The government’s tax reform Package 2 — focused on corporate profits and fiscal incentives — could end up being detrimental to investments, a Fitch Group unit said.

“While the proposed tax reforms in the second package would streamline the complex tax system, we believe it will likely weigh on the country’s competitiveness and create uncertainty for investors in the near-term,” BMI Research said in a report released on Tuesday.