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Calgary, 7 June 2023 – The Philippine Consulate General (PCG) in
Calgary and the Philippine-based Asian Consulting Group Inc. (ACG) held an
online briefing on Philippine Investment and Taxation on 31 May 2023.
The event featured Mr. Mon Abrea, Founding
Chairman of the ACG and Co-Chair of the Ease of Doing Business (EODB) Task
Force on Paying Taxes, as the main
resource person.
An accomplished tax advocate and
renowned tax expert in the Philippines,
Mr. Abrea was recognized as one of the 2017
Outstanding Young Persons of the World, 2016 Digital Mover, one of the 2015 The
Outstanding Young Men of the Philippines (TOYM), and an Asia CEO Young Leader
because of his tax advocacy and expertise. He is also the founder of Tax Whiz
PH mobile app.
Mr. Abrea gave an overview and forecast of the
Philippine economy. He identified the
sectors driving the country's economic growth and discussed the eight-point
socio-economic agenda of the Philippines under the Marcos Administration.
He encouraged overseas Filipinos and the
Canadians to consider investing in the Philippines through investment
instruments, such as the Real Estate Investment Trust (REIT), stocks, treasury
bills, bonds, MP2 savings, and the Personal Equity Retirement Account (PERA).
He then cited the laws, such as the Foreign
Investment Act and the Public Service Act, that are now in place to make doing
business in the Philippines much easier. The Comprehensive Tax Reform Program,
the TRAIN Law, and CREATE Law have also brought major reforms in the country’s
tax system.
“We hope that through Mr. Abrea's presentation, we could encourage more
Canadian companies and Filipino-Canadians to invest in the Philippines,” said
Consul General Zaldy Patron.
Co-sponsoring the online briefing
with the PCG and ACG were the Philippines Chamber Calgary, United Filipino
Entrepreneurs Association, and the Filipino-Canadian Women Multipurpose
Cooperative.