The Philippines is considering reducing value-added tax (VAT) and introducing more fiscal support to enhance the cost competitiveness of domestic garments.
The 12-per cent VAT rate in the country is the highest in the region.
Domestic garment manufacturers and exporters have been complaining about rising costs and tougher competition in the global market, Trade secretary Cristina Roque said.The Philippines is considering reducing value-added tax (VAT) and introducing more fiscal support to enhance the cost competitiveness of domestic garments.
The 12-per cent VAT rate in the country is the highest in the region.
Domestic garment manufacturers and exporters have been complaining about rising costs and tougher competition in the global market, Trade secretary Cristina Roque said.
