The Department of Finance (DOF), through its Strategy, Economics, and Results Group (SERG), conducted a briefing on Package 3 of the Comprehensive Tax Reform Program (CTRP) or the Real Property Valuation Reform Bill among the Public-Private Partnership Center (PPPC) officials and employees on January 8, 2020. Director Ma. Pamela P. Quizon of the Local Fiscal Policy Service of the DOF-Bureau of Local Government Finance (BLGF) presented the salient features of the Package 3 of CTRP, and its impacts and benefits to the PPP Program and Projects.
PPP Center Executive Director Ferdinand A. Pecson also gave emphasis on the importance of critical tax reforms that would help alleviate delays and make investment opportunities more attractive to potential investors. “The uncertainty that we have today in terms of what happens to future real property taxes is a concern because of so many issues in RPT, not just in policies but also the way properties are valued which are creating uncertainties. The proposal would help in a big way reduce contingencies and make the PPP projects more stable especially for investors by making returns more predictable.”