250,000 jobs from Japanese investments; yes to tax breaks; no to double taxation
SOME 250,000 jobs will be generated locally from the $1.85-billion Japanese investments obtained by President Duterte’s state visit to Japan.
Japan visit “very productive,” says Malacanang. Much-needed jobs to be generated.
*** The new batch of 12 Japanese investments/ business ventures will deal in automotive manufacturing, renewable energy, agriculture, and other sectors, said Trade Secretary Ramon Lopez.
Magic 12 to bring employment magic, he says.
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The President’s visit to Tokyo did not only strengthen PH’s economic and defense cooperation with Japan. It also attracted private sector investments to the country, Lopez said.
Reception of President and business delegation was “very warm.” Philippine Economic Forum had a successful run, he said.
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“They have committed investments running up to about $1.85 billion covering 12 MOUs (memorandums of understanding) and letters of intent and they will employ about 250,000 on jobs to be generated by these investments and expansion,” Lopez said.
PH response: Domo arigato!
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Lopez said Japanese carmakers Toyota Motors Corporation and Mitsubishi Motors have committed to start local production of their cars in the Philippines under the government’s Comprehensive Automotive Resurgence Strategy (CARS).
Toyota to manufacture Vios, Mitsubishi to produce Mirage. More cars for everyone. ***
“They will source car parts from the Philippines so that will mean more business activities more jobs for Filipinos,” he added.
Translation: The use of local content will give us more contentment.
*** Likewise, Japan-based Farmind Corporation committed to buy 20 million boxes of bananas from the Philippines, at a cost of $220 million a year.
This will earn for the country some 15 billion a year and generate 14,000 jobs in the Southern Philippines, says Agriculture Sec. Manny Piñol.
*** “The signing of the agreement will mark the start of the development of about 7,000 hectares of banana farms which the Japanese company, Farmind Corp., would like to be located in former conflict areas in the Southern Philippines,” Piñol added.
A good employment support for former rebel returnees and beneficiaries of agrarian reform program, he said.
*** Farmind President Tatstuo Horiuchi said his firm will “provide livelihood to agrarian reform beneficiaries, as well as former rebels, to support the President’s peace efforts.
Yes to more support and livelihood opportunities for Pinoys!
*** Meanwhile, with 59 days before Christmas, concerned groups called for the implementation of Republic Act (RA) 10754 which grants persons with disabilities (PWDs) discounts on goods and tax breaks.
Yes to tax breaks, too. Time for the necessary implementing rules and regulations (IRR), they cried. *** Senate Minority Leader Ralph Recto, one of its authors, said, “I cling to the belief that the better angels of man’s nature will prevail in the end. That compassion would triumph over cold fiscal numbers. I appeal once again that the IRR of RA 10754 will be out soon.”
No more “missing link” to its full implementation,” he said.
*** Sponsors of RA 10754 said it exempts PWDs from all sales taxes on certain goods and services, like transport fares, medicines, medical and dental services and laboratory fees, raising the discount to 32 percent.
Yes to tax exemptions.
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Officials of the Pilipinas Shell Petroleum Corporation (PSPC) have cautioned concerned government agencies against subjecting it to “double taxation.”
Double taxation is bad for our health, they said.
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PSPC officials said their travails started in 2004 and stemmed from the insistence of the Bureau of Customs (BOC) at the Port of Batangas to impose and collect excise taxes, apart from the mandatory tariff duties customarily paid for by PSPC, against the company’s importation of catalytic cracked gasoline (CCG) and light catalytic cracked gasoline (LCCG) used as intermediaries or components of its petroleum products to comply with fuel quality standards.
Collecting two rounds of excise taxes on PSPC’s imports disregards prohibition and rulings against double taxation, they claimed.
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The controversy, which has been raised before the Ombudsman, will lead PSPC to seek justice and vindication from the Supreme Court because its name is being deliberately tarnished as a cheater, PSPC officials lamented.
No to double taxation and bullying of companies paying taxes and providing jobs, they appealed.