The FIRB said it has allowed the extension until January 31, 2023 of the paper transfer registration of existing registered business enterprises (RBEs) in the IT and Business Process Management (IT-BPM) sector to the Board of Investments (BOI).
THE Fiscal Incentives Review Board said it has allowed the extension until January 31, 2023 of the paper transfer registration of existing registered business enterprises in the IT and Business Process Management sector to the Board of Investments .
“Provided that RBEs in the IT-BPM sector that will opt to register with the BOI pursuant to this Resolution from January 1 to 31, 2023, will not be required to post a bond for all equipment and other assets that will be brought outside the economic or freeport zone until they secure the Tax Exemption Indorsement for all their equipment and other assets from the DOF Revenue Office or 31 March 2023, whichever is earlier,” the FIRB Resolution read.
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said at a virtual media briefing last December 16 that the BOI will work closely with the IT and Business Process Association of the Philippines. He also noted that “the number might have already been final and that others may not be interested to transfer.”
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