THE common carriers tax levied on international air and sea cargo vessels will be reviewed in a bid to level the playing field and improve the country’s competitiveness, a Cabinet official said.
Finance Secretary Carlos Dominguez 3rd told reporters Denmark’s Industry, Business and Financial Affairs Minister Brian Mikkelsen had forwarded the request in a recent meeting.
“My impression is they wanted a lower rate. They just expressed it as “Can you please review?” [and]I said yes, we will review but I did not make any promises,” Dominguez added.
A Trade department statement quoted Dominguez as saying: “We are seriously reviewing this and again the goal is to make it fair to everyone and to make it a level playing field for all participating in the business.”
“We are going to review the [relevant]BIR (Bureau of Internal Revenue) issuances.”
Mikkelsen, meanwhile, was said to have told Dominguez that the common carriers tax “is the one topic that gets us worried” and that Denmark was “very interested to know more about this.”
“Looking at the shipping area, this is a very global business, therefore it is advisable to have a level playing field,” he was quoted as saying.