AIRLINES EXEMPT FROM NEW PHILIPPINES TAXATION BILL

Dino D'Amore
By Dino D'Amore February 23, 2011 09:48

AIRLINES EXEMPT FROM NEW PHILIPPINES TAXATION BILL

The House ways and means committee has approved a bill recognizing the need to exempt international airlines from Philippine taxes under treaties and international agreements to which the Philippines is a signatory.

Danilo Suarez of Quezon, a senior member of parliament, said the country’s P115 billion investment to upgrade its airports would be wasted “if we have airports without passengers and without airlines landing or taking off”.

Hermilando Mandanas of Batangas said the new bill aims to empower the executive branch to execute the tax exemptions under tax treaties and agreements signed by the country related to international carriers. He said there could be a separate bill on amending taxes for the sake of improving tourism in the country.

“But this particular bill we approved is just to underscore that our country is going to comply with all the tax treaties and international agreements it signed relating to international carriers,” Mandanas said.

Dino D'Amore
By Dino D'Amore February 23, 2011 09:48
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