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News
- IRR issued for EODB Act The much-awaited implementing rules and regulations (IRR) for the Ease of Doing Business (EODB) Act, which provides a required period for government transactions to be completed, was finally signed by the Anti-Red Tape Authority (ARTA), Department of Trade and Industry (DTI) and Civil Service Commission (CSC). While the IRR has been issued, ARTA will issue separate guidelines for agencies with quasi-judicial functions that may require a longer time to complete their processes. Newly appointed ARTA Director-General Jeremiah Belgica said the IRR would be effective 15 days after its publication.
- Chambers pitch concerns to Congress Legislative measures that will open the country to more foreign investments, increase jobs and further reform the tax system top local and foreign businesses’ wish list for the 18th Congress that convenes for its 1st of 3 regular sessions on July 22. The European Chamber of Commerce of the Philippines (ECCP) and the Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI) will likewise push for measures to increase competitiveness of the Philippines, including the proposed tax reform that will reduce the corporate income tax rate gradually to 20% by 2029 from 30% currently.
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