Proposed Philippine tax reforms prompt Japanese firms to issue warning

Should the Philippine government withdraw tax concessions enjoyed by Japanese companies, many may go bankrupt or close their operations there, a top official of the Japanese Chamber of Commerce and Industry in the Philippines has warned.
“They do not want to expand operations here. It’s the first step for them,” Nobuo Fujii, vice-president of the organisation with 650 companies as members, told Kyodo News on Monday.
“Then the second step is to gradually withdraw,”…