The Report to analyze major tax reforms

A FORTHCOMING report by the global research and consultancy firm Oxford Business Group (OBG) on the Philippines will dissect the planned Tax Reform For Acceleration Law (TRAIN) 2, also known as The Trabaho, looking in detail at its implications for international companies eyeing the country’s investment opportunities. The Report: The Philippines 2019 will analyze the impact that the second tax reform package is expected to have on businesses operating in the country’s Special Economic Zones, where a number of incentives are set to be removed.

Other key aspects of the reforms set to be examined will include the decision to reduce the rate of income tax for smaller-sized enterprises from 30% to 20%, in a bid to support their expansion and create new jobs.

OBG’s report will also provide in-depth coverage of the newly formulated National Intellectual Property Strategy (NIPS), which has been devised to improve intellectual property regulations – a key issue for the Philippines’ business process outsourcing firms and fast-growing creative industries.

In addition, the publication will map out the compliance, registration and capitalization criteria for investors keen to find out more about the openings in the country’s mining and energy sectors. Other topical issues earmarked for analysis include the government’s plans to issue a telecommunication licence – the country’s third – to a new operator.

Villaraza & Angangco (V&A) Law has signed a second memorandum of understanding (MoU) with OBG for its forthcoming publication. Under the MoU, the legal firm will help OBG to research and produce the Law chapter of The Report: The Philippines 2019, while contributing to additional analysis provided by the Group.

Commenting after the signing, Alejandro Alfonso E. Navarro, managing partner, V&A Law, said the Firm is looking forward to providing thorough legal analysis on the aforementioned developments in commercial law, culled from its lawyers’ extensive experience assisting clients in adapting to or preparing for them.