Trabaho, aka Train 2, seen to lead to job losses
Job losses were expected as a result of the Duterte administration’s second tax reform package, which seeks to lower corporate income tax and remove tax incentives for select businesses, according to an official of the Department of Labor and Employment (Dole).
“We’re looking at some [job losses],” Dominique Tutay, director of the Dole’s Bureau of Local Employment, said at a Senate hearing on the tax reform bill.
Tutay said the job losses could hit the industry and services sector, including technology-driven industries.
But she said they were “confident the bill will bring more and better quality jobs.”
But Sen. Sherwin Gatchalian said job losses were contrary to the objective of the measure, which the House of Representatives named the Tax Reform for Attracting Better and High Quality Opportunities or Trabaho, from Tax Reform for Acceleration and Inclusion (TRAIN) 2.
“If you’re saying there will be people who will lose their jobs, it’s contradicting the objective of the bill,” Gatchalian said.
He also said the Dole should provide more details.
“It’s really creating a lot of confusion whether this bill will actually create jobs or will reduce jobs,” he said.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.