PH Consulate General in San Francisco, PTIC Silicon Valley kick off 2022 with investment, tax briefing webinar
Right photo: Philippine Ambassador to the U.S. Jose Manuel Romualdez delivers his message in the investment and tax webinar. Left photo: Department of Trade and Industry Secretary Ramon Lopez gives his message to attendees of the investment and tax webinar. Mr. JR Calanoc of Dynamico Space.
SAN FRANCISCO, 17 January 2022 – Filipino American business communities from the Pacific Northwest participated in an investment and tax briefing webinar organized by the Philippine Consulate General in San Francisco, the Philippine Trade and Investment Center in Silicon Valley (PTICSV), and Dynamico Space on 12 January 2022.
The webinar titled, “Investment and Tax Briefing: Investment Opportunities, Ease of Doing Business, and Comprehensive Tax Reform Program,” featured Mr. Raymond A. Abrea, Co-Chair of the Ease of Doing Business Task Force on Paying Taxes and Chairman and CEO of Asian Consulting Group. Mr. Abrea is known as the “Tax Whiz of the Philippines,” given his extensive knowledge of the Philippines’ tax system and consulting practice.
Philippine Consul General in San Francisco Neil Frank R. Ferrer opened the event along with other Philippine government officials – Trade and Industry Secretary Ramon Lopez, Anti-Red Tape Authority Director-General Jeremiah Belgica, and Philippine Ambassador to the United States Jose Manuel Romualdez.
In his message, Consul General Ferrer encouraged individuals and companies to set up businesses or expand their operations in the Philippines in light of the positive developments in the country’s post-pandemic economic recovery. Consul General Ferrer noted various investment opportunities in the Philippines, particularly in business process management, aerospace, manufacturing, agri-business, real estate, and high-value services including hyperscalingactivities, such as establishment of data centers and cloud services, among others.
Mr. Abrea provided an overview of possible investment opportunities in the Philippines such as Real Estate Investment Trust, stocks, bonds, non-fungible tokens or NFTs, and other opportunities available in the country’s digital economy. He also highlighted the new laws and policies that would facilitate more ease in doing business in the country such as the Corporate Recovery and Tax Incentives for Enterprise (CREATE) law, which grants fiscal and non-fiscal incentives to high-value strategic investments and allows for a longer time period for tax holidays and subsidies for key cost items, the Revised Corporation Code, and existing relevant laws.
The event, which was moderated by Consul Vanessa Bago-Llona, Trade Representative Celynne Layug, and Mr. JR Calanoc of Dynamico Space, with which the Consulate General has a public-private partnership that aims to promotePhilippine startups in the U.S. and the Philippines as an investment destination for U.S. technology and related businesses.
The webinar is posted at the Consulate’s Facebook page: https://www.facebook.com/PHinSF/videos/288929109876077.
Trade Representative Celynne Layug introduces the speaker, Mr. Raymond Abrea, who is known as the “Tax Whiz” in the Philippines during the webinar on “Investment and Tax Briefing: Investment Opportunities, Ease of Doing Business, and Comprehensive Tax Reform Program,” on 12 January 2022.
From left to right: Mr. Raymond Abrea, Mr. JR Calanoc, Consul Vanessa Bago-Llona, Consul General Neil Frank R. Ferrer, Trade Commissioner Celynne Layug.
For more information, visit https://www.sanfranciscopcg.dfa.gov.ph, https://www.philippinessanfrancisco.org, or https://www.facebook.com/PHinSF/.