Quisumbing Torres' Tax Practice Group was front and center during the Round Table Discussion on Foreign Investments and Taxes organized by the EU-Philippines Business Network (EPBN) Tax and Financial Services Committee. EPB is a project co-funded by the EU and implemented by a consortium of European Chambers of Commerce based in the Philippines. Its aim is to provide a support framework for European companies interested in exporting to or investing in the Philippines.
The round table discussion was held last 17 March at EPBN's office in Makati City.
Dennis Dimagiba, the firm's Tax Practice Group Head, led the discussion on the topic. Joining him were associates Kristine Mercado-Tamayo and Alexander Ner.
The round table discussion was aimed to keep finance practitioners updated on the latest developments in legislative and administrative tax reforms. It also sought to discuss the issues facing businesses in terms of tax and investments.
The Tax Practice Group presented updates on Value-Added Tax (VAT) refunds, particularly Revenue Regulations No. 1-2017, which govern applications for refund of Value-Added Tax. They also discussed the tax implications of foreign sales activities as well as tax structuring of investments. The round table discussion was well-attended by finance practitioners from various institutions.