The Board of Investments (BOI) is studying the possibility of removing the geographical qualifications in availing incentives from the government.
Trade Secretary Ramon Lopez, BOI chairman, said one of the recommendations of the business sector for job generation is the review of the Investment Priorities Plan (IPP) and removing geographical qualifications in availing subsidies, incentives, and programs, among others.
Removal of locational restrictions, going by the provisions of the Corporate Recovery and Tax Incentives for Enterprises will give Metro Manila projects the Tier 1 incentives of four years in income tax holiday, plus five years of enhanced deductions or special corporate income tax rate.
BOI managing head Ceferino Rodolfo said at this time when jobs are badly needed, the agency may consider granting incentives for projects located in Metro Manila.
Rodolfo said while the government’s Balik Probinsya Program is the anchor of the Investment Priorities Plan 2020 signed by President Duterte last November, locational restrictions had been imposed to push investments out of the National Capital Region.
Case in point is the restrictions on business process outsourcing.
“If there are projects that can viably and technically allow work- from -home arrangements, we will study (the lifting of restrictions),” Rodolfo told a recent forum.
Meanwhile, the Philippine Economic Zone Authority is drafting a letter asking the Office of the President to lift Administrative Order 18 which which imposesd a moratorium on the proclamation and approval of these special ecozones in Metro Manila starting middle of 2019.
