Robin Padilla wants more foreign investors; but no tax perks for them
MANILA, Philippines — Actor and senatorial aspirant Robin Padilla on Thursday said that while more foreign investors are needed by the country, he is against giving them tax incentives.
He said that while he agrees that business ownership should be changed to 50% ownership by a Filipino citizen and 50% ownership by a foreign investor from the previous 60-40 equity rule, taxes should not favor foreigners.
“‘Pag sa ibang bansa, nag-invest ka, ang tax mo doble, dito sa Pilipinas, magkakaroon ng foreign investor, bibigyan kaagad ng tax incentives,” Padilla said in an interview over ABS CBN News Channel, citing his being an investor in Australia where he said he had to pay “double” in taxes.
(In other countries, if you invest, you pay double your taxes. Here in the Philippines, foreign investors are given tax incentives.)
“Okay na tayo sa partihan, 50-50 tayo dapat lang. Pero pagdating sa tax, hindi mo dapat pinapaburan ‘yung foreigner kaysa sa Pinoy,” he added.
(I am okay with the 50-50 partition. But when it comes to tax, we should not favor foreigners over Filipinos.)
Padilla said having more foreign investors will enable the Philippines to raise the “minimum monthly” income of Filipinos, which he said he will push for if he wins as senator.
He said the current minimum wage is not enough to raise a family and each family should be able to receive at least P25,000 in monthly income.
“Dapat lang magkaroon tayo ng average. Ano ang average na kinikita ng isang pamilya? At least 25,000,” he said.
(There should be an average. It should be at least P25,000.)
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