MBC Thanks Congress,
Welcomes 3 Economy-Boosting Bills

03 October 2023 – Makati Business Club congratulates and thanks Congress for a productive start to the current session, with three economy-boosting bills on their way to the President for signature. These are the Ease of Paying Taxes and Internet Transactions measures, and amendments to the Public-Private Partnership Act.

• The Ease of Paying Taxes bill will greatly help individuals and businesses, especially MSMEs, who make up most of the economy, contribute their share to the government’s coffers easily and quickly so they can focus on the work that creates jobs and supports their families. Congratulations and thanks to Cong. Joey Salceda for championing this measure,  Senator Sherwin Gatchalian and their colleagues for this liberating initiative. We encourage the BIR to follow with the implementation of its e-invoicing and e-receipts system (EIS)
• The Internet Transactions measure will apply balanced rules and regulations on certain internet activity. This will allow technology to serve job-creating entrepreneurs as well consumers seeking convenience and better deals, while giving consumers reasonable protections. 
• The Public-Private Partnership bill, more than 30 years after the original BOT Law, is a major step toward a shared vision for the private sector to assist the government in delivering public services at a high standard. If and when it is signed, we respectfully request the Administration to consider a range of private sector recommendations when they craft the IRR, with the objective of making it more attractive for businesses to partner with the government at a time when GDP growth is slowing, FDI remains weak, and government finances are under increasing pressure. This is especially important for the provisions on unsolicited proposals, which have a valuable, defined role in the PPP space.

We look forward to the President signing these bills into law. We are also looking forward to more productive legislation when Congress resumes session on November 6. We continue to advocate for remaining economic reforms such as the Apprenticeship bill, Amendments to the Right of Way Act, and the Enactment of Enabling Law for Natural Gas Industry.

We are confident these reforms will be a boon for taxpayers, entrepreneurs, consumers, and all citizens, all of whom deserve better public services. We are confident they will help create a more attractive investment climate and generate more and better jobs for the Filipino people. We look forward to more signs of leadership in a time of growing local and global economic headwinds. (END)