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COPYRIGHT 2005 Asia Pulse Pty Ltd
MANILA, Jan 14 Asia Pulse - The House of Representatives has decided to create a single governing statute in the grant of fiscal and non-fiscal incentives under the "Consolidated Investments and Incentives Code of the Philippines" to generate an estimated P5.3-billion (US$95.2 million) in revenue savings.
Speaker Jose de Venecia said House Bill 3295, approved Tuesday night on second reading, will establish a clear, simple, time-bound and performance-based incentives system in the country.
"This is part of President Gloria Macapagal Arroyo,s economic program to maximize the in-flow of investments to the country by creating the best possible investment climate...
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