SEIPI sees production cost rising by 40% because of TRAIN 2

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said the proposed terms under the tax reform’s second package may hike the production cost of its member-firms by an average of 40%.
“The bottomline is it was gonna increase the cost for the compan[ies] on the average by about 40%,” SEIPI President Danilo C. Lachica said in a press briefing in Pasay City.
The official emphasized that the figure resulted from the group’s computation of the average assessment of all its members, noting that some firms may not be as hurt as others by the TRAIN 2. — Janina C. Lim