MANILA -- Multinationals operating in the Philippines are facing delays in receiving refunds on the value-added tax, with the situation growing so dire that some companies are considering withdrawing from the market.
Politics
Philippines risks losing foreign investment over delayed tax rebates
Multinational companies criticize byzantine tax code, slow VAT refunds
Dole, which exports bananas from the Philippines, faces a huge tax hit without a VAT rebate. © Reuters
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