Some 163 information technology-business process management (IT-BPM) projects with a total investment of P13.9 billion are poised to transfer registration from the Philippine Economic Zone Authory (PEZA) to the Board of Investments (BOI) to be able to implement hybrid work without losing incentives.
Of these projects which have been endorsed by PEZA, 55 are being processed, the Department of Trade and Industry said.
Their transfer is in relation to the implementation of the Fiscal Incentives Review Board Resolution No. 026- 22 issued on September 14 allowing IT-BPM registered business enterprises (RBEs) to adopt up to 100 percent work- from-home (WFH) arrangement.
Under the guidelines, RBEs that can exercise the option to register with BOI are those that have remaining tax incentives and those with approved incentives on or before Sept, 14, 2022 under the CREATE Act.
The RBEs have until December 31 to exercise option to register with BOI.
After the lapse of the period of the remaining tax incentives, the existing registered project of the covered RBEs shall not be entitled to additional incentives, unless the activity qualifies as a new investment or qualified expansion under the Strategic Investment Priority Plan. – Irma Isip
