Local businessmen and the employers’ group called on the government to correct policies that negatively impact on the daily operations of domestic businesses.
A joint position paper of the Philippine Chamber of Commerce Inc., Philippine Exporters Federation and the Employers’ Confederation of the Philippines cited their concerns to the Trade Department and the National Competitiveness Program.
The groups proposed the suspension of Memorandum Circular 10-2014 of the Bureau of Internal Revenue that required the disclosure specific income and taxes.
They said the policy posed a grave threat in the government’s effort to attract local and foreign investments.
“This is another grave abuse of discretion in issuing regulations without regard to the right to privacy. This disclosure may compromise the safety of people and companies if they are identified by unauthorized third parties. Further, the integrity of a particular market of the taxpayer could be affected by the release of such information,” the paper read.