Foreign chambers join call for Clark tax perks

CLARK FIELD, Pampanga — The Foreign Chambers of the Philippines (FCP) has joined the mounting appeal for both Malacañang and Congress to immediately pursue measures against a Supreme Court ruling withdrawing special tax and duty free privileges to investors at the Clark special economic zone.

In a letter to President Arroyo, the FCP appealed for an amendment to Republic Act 7227, or the Bases Conversion Law, which the Supreme Court, in its July 29 decision, declared as granting such privileges only to investors at the Subic Bay Freeport.

"We shall ask the legislature for the amendment to the law, but at the same time, we know this might take too long," stated the letter signed by the presidents of the American, Australian-New Zealand, Canadian, European, Japanese, and Korean chambers of commerce in the Philippines, as well as of the Philippine Association of Multinational Companies Regional Headquarters Inc. — Ding Cervantes