ITBPAP President Jack Madrid said in response to queries as to the low number of transferees from PEZA to BOI to ensure continued 100 percent work from home operations and enjoy full tax incentives
The IT and Business Process Association of the Philippines partly attributed the lower turnout of IT business process management or business process outsourcing firms that transferred their registration to the Board of Investments to the possibility that they will still be allowed to partially operate remotely even if they remain under the Philippine Economic Zone Authority .
“We were aware of registered business enterprises who would rather not undertake the paper transfer of their registration to BOI and stay solely with PEZA as their investment promotion agency ,” said Madrid. Based on the PEZA report, it has endorsed a total of 786 ITBPMs to the BOI. In fact, ITBPAP said it has not received requests from members for extension of the Dec. 30 application deadline for registration transfer from the PEZA to the BOI.
As for the extension of the application period beyond 31 December 2022, we appreciate the initiative of Congressman Joey Salceda asking the Fiscal Incentives Review Board to grant a one-month extension.
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