• The government is working to slash stock transaction tax in the country as part of structural reforms to improve ease of doing business, economic and investment czar Frederick Go said.
  • Go, secretary of the newly created Office of the Special Assistant to the President for Investment and Economic Affairs, said on Wednesday this was one of the measures under consideration to boost the local capital markets.
  • “We are working on reducing friction costs, like reducing sales tax, harmonizing withholding tax and reducing brokers’ commissions,” Go said during the ease of doing business briefing organized by the Anti-Red Tape Authority at Manila Hotel.
  • Go said the government aims to lower the 0.6 stock transaction tax to 0.1 percent.