Press Release
September 17, 2019


Transcript of interview
With Ways and Means Committee Chair Pia S. Cayetano
Topic: Corporate Income Tax and Incentive Rationalization Act (Citira) Bill

Reporter: Regarding the CITIRA briefing, anong chances na makakalusot this session ang bill na ito?

PSC: Well, let me just give a very short statement. Love, just like business, is a two-way street. So, you need to have mutual respect and both parties need to have something to gain from staying together.

So, when I look at all the information being given to me, my job is very simple - to analyze what the Filipino people have to gain with the existing incentive packages that we are offering hundreds and thousands of investors.

The job is fairly simple. And, I have to also say na just like love, wala ring forever. But, there is such a thing as long-term. But it must also ensure that throughout that process, the parties are in a very happily productive relationship.

So that's my goal, to find that sweet space, that sweet spot, that the Filipino people, the Filipino youth, the employees of our future, have something to gain with the investments, with the investors that are bringing their business in the country.

Reporter: Nakita na ba ang sweet spot na yun? How many more briefings are needed?

PSC: Nabubuo naman. And, my outlook is very positive because I have the patience to see this love affair through.

Reporter: Will you push for the mechanism na binanggit niyo kanina na magkakaroon ng opportunity ang investors to sit down and express their concerns and actually have them answered?

PSC: I think you have seen through the hearings that I've conducted, even in this Congress alone, ginagawa ko naman yun eh. And even in the past congresses, even in the most controversial hearings that I conducted on reproductive health, and even on divorce, when I was in the Lower House, everyone can have the opportunity to say their piece.

Reporter: Ilang hearings pa ang tingin niyo ma'am na bubunuin?

PSC: Mga ilan pa, mga ilan pa. Hindi ito agad matatapos. But, we're working on it, working progress, so I'm about to wrap up the hearings on the 2+, which is the e-cigs and the alcohol. Patapos na yun. And then CITIRA naman ang paumpisa ngayon.

Reporter: What can you say about the proposal of Sen. Zubiri about the 5-7 years of sunset provision?

PSC: I will not give any comments yet on details of any proposal, because it's my job to receive all the different proposals. So as you noted earlier, it was still a proposal by the DOF, and even then, wala pa naman masyadong details on that. So I will digest everything. No comment yet ako.

Reporter: Ma'am, si Usec. Karl kanina said in passing that they hope it will be passed by this year. And even Sen. Zubiri raised concern about the uncertainty that has lingered over the past 2 years. What is your game plan knowing this?

PSC: Thank you for asking that question. Again, I liken it to a love affair. If you're asking me why, I think it's a very important topic for even those who are not in business to understand. So I am just using it as an analogy for people to understand.

Just like a love affair, ang pinaka-importante sa lahat is the certainty, right? Dapat alam mo kung kayo pa rin. Dapat alam mo kung gini-ghost ka na. Dapat alam mo kung break na pala kayo. Dapat alam mo kung may problema, right?

So, you can rest assured that the Chairman of the Committee is cognizant of the need for certainty, and not just in the industries, but really in our economic future. Certainty is, I think, the most important thing that we need to be able to give to investors, employees, everyone.

Reporter: Do you see this getting passed by the end of the first regular session?

PSC: The first regular session? Oo naman. When I say oo naman, oo naman may pag-asa. I don't mean na papasa. I'm saying, oo naman, may pag-asa.

Thank you!

News Latest News Feed