MANILA: The Senate Committee on Science and Technology is set to investigate the threat of the Philippines’ new tax reform law to the business process outsouring (BPO) sector, said Senator Paolo Benigno “Bam” Aquino IV on Sunday, March 11.
“After receiving reports that the BPO sector may need to reduce their workforce or set aside expansion plans in the country, Senator Bam set a second hearing on the issue on Monday, March 12,” Aquino’s office announced.
When the Tax Reform for Acceleration and Inclusion (TRAIN) Law was tackled in Congress, Aquino had pushed for the retention of a special tax rate for regional operating headquarters and regional headquarters.
Hundreds of thousands of Filipinos work in BPO firms, with the Philippine BPO sector known as one of the fastest growing industries in the region.