Business process outsourcing (BPO) firms remain bullish on expanding in the Philippines despite the removal of tax perks under the proposed second package of the Tax Reform for Acceleration and Inclusion (TRAIN), according to real estate consulting services Colliers International Philippines.
Colliers Senior Research Manager Randwil Dinbo U. Macaranas said that BPO firms take into account different factors other than cost-efficiencies when locating in the country.
“They do recognize that tax reform has a significant impact, but there are lots of other factors that come into play such as culture affinity, skills, comfortability, how well established they already are in the local market,” Mr. Macaranas told reporters after the company’s first quarter property market briefing in Makati City yesterday. — Arra B. Francia