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Philippine Daily Inquirer: Dutch firms said to be fearful of RP taxation

Philippine Daily Inquirer: Dutch firms said to be fearful of RP taxation

“THE PHILIPPINE GOVERNMENT WILL HAVE to resolve existing taxation issues involving the Shell Group of Companies here if it expects to see more Dutch companies investing in the country.”: “Shell Group country chair Edgar Chua said the oil refiner was still reviewing whether it should retain or eventually close down its refinery here.”

Monday Sept 19, 2005

THE PHILIPPINE GOVERNMENT WILL HAVE to resolve existing taxation issues involving the Shell Group of Companies here if it expects to see more Dutch companies investing in the country.

Ric Hettinga, the Royal Netherlands Embassy deputy chief of mission, said in a recent interview that the less obstacles to investing here, particularly with regard to taxation, the better chance there was of Dutch firms bringing their businesses into the Philippines.

“We will be happy if taxation would be such that Dutch companies can operate here,” Hettinga told reporters.

But he also said that, as with any other government, taxation has both positive and negative effects. These would have to be clearly determined, particularly in light of attracting new investors.

As for the issue between the government and the Shell Group here, he said that was up to the two parties to resolve.

Pilipinas Shell Petroleum Corp. had submitted a position paper to the Department of Energy regarding the possibility of keeping a tariff differential between crude and refined petroleum products.

Shell Group country chair Edgar Chua said the oil refiner was still reviewing whether it should retain or eventually close down its refinery here.

Energy Secretary Raphael Lotilla said the government was willing to explore the possibility of instituting some sort of tariff differential between refiners and pure importers. Abigail L. Ho

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