Philippines decides outsourcers need incentives to stick around, after all

The Philippines last week decided to extend incentives offered to foreign outsourcers that offer working from home to local employees. The nation has used incentives to lure outsourcers to its shores, on the condition that they operate in special economic zones or freeports. The policy has been so that such companies …

[Pascal Monett]

Only one possible conclusion

Money must flow.

Anything that stops the flow of money is an obstacle to be routed around.

[gandalfcn]

Re: Only one possible conclusion

Only one possible conclusion

Money must flow into the pockets of the politicians.

[thejoelr]

Real estate.

This is a problem many places sans the tax break. There was heavy real estate investment. Business property, nearby condos and such. The beginning of the pandemic saw foreign casino operations abandon their rentals and disappear overnight. As the pandemic continued, businesses continued to shrink their footprint in real estate. Businesses nearby suffered from lack of business and closed. So the battle was really between those wanting their real estate investments to be profitable again vs companies who had learned how much you can save by people working out of their homes. And, the Philippine economy is in a tough spot and can't afford for large companies to start exiting--there are already major caution flags for new investment.

[gandalfcn]

"This goes to show that tax perks are not that important to investors doing business in the Philippines, " Unless it is politicians receiving them.

Remember, this is the administration of Bongbong the son of Ferdinand and Imelda, lest anyone forgets.