The results of the latest OBG Business Barometer: Philippines CEO Survey shed light on how President Rodrigo Duterte’s tax reform packages have been received by the business community. Effective since January 1, 2018, the Tax Reform for Acceleration and Inclusion (TRAIN) programme has exempted many low-wage workers from income tax but was also partly blamed for causing inflationary pressures that year. Of the almost 100 C-suite executives that were surveyed, some 35% said TRAIN had affected local business conditions in a negative way, 33% gave a neutral response, 29% responded that it had a positive impact and 1% opted for very positive. For more information on the OBG Business Barometer, please visit www.oxfordbusinessgroup.com/ceosurveys.
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