‘PH tax breaks must be at par with Asean peers’

The Department of Finance (DOF) said the government’s income tax holidays should be at par with those of other Southeast Asian nations as the Philippines tries to liberalize its economy further and attract more foreign investment.

In a statement released on Friday, Finance Secretary Carlos Dominguez 3rd said the government has to rationalize its current fiscal incentives program while working on ways to develop a more open economy for foreign direct investment (FDIs).