The 5th India Business Forum (IBF) meeting was held on 25 Oct 2018 under the Presidency of new President Mr. Pushkar Mishra. Mr. Mishra welcomed the members and thanked Ambassador Jaideep Mazumdar and DOF Undersecretary Karl Kendrich Chua for gracing the occasion. Ambassador recounted his meeting with H.E. Secretary Finance, Carlos Dominguez III, and other senior officials of the DOF on the prospects of enhancing the investments of Indian companies in the Philippines.DOF Undersecretary Karl Kendrich Chua then presented the logic and main features of the second package of the Tax Reform for Acceleration and Inclusion (TRAIN-2) Law which seeks to rationalize the fiscal incentive system for foreign investors. The Philippine Government seeks to implement the second phase of TRAIN Law on 1 January 2019 upon the concurrence of the Legislature. There followed a useful interactive session at which Under Secretary Chua replied to questions from those present.
About 35 members were present.