Tax reforms paved way for positive PH outlook

Tax collection reforms paved the way for the positive outlook of a Japan-based rating agency for the Philippines, according to the Department of Finance (DOF).

In a statement over the weekend, Finance Secretary Cesar Purisima commended Ratings and Investment Information Inc. (R&I Ratings) in changing its rating outlook for the country from stable to positive, while affirming its investment grade rating of “BBB-.”