Position Paper on the Rationalization of Fiscal Incentives

As part of AER’s tax policy, we are supporting legislation that aims to phase out redundant tax incentives that cost billions of pesos in lost revenues and to put in place a well-targeted and a performance-based fiscal incentives system. While fiscal incentives, in their current design, administration, and context, may have proven to be of little value when it comes to encouraging investments, the notion of providing effective subsidies to worthy investors should not altogether be abandoned.

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