Senate retains tax incentives for BPO industry
The Senate did not change the tax incentives given to the business process outsourcing (BPO) industry to enable the country to continue attracting more BPO investments. Senator Sonny Angara, chairman of the ways and means committee, said keeping the incentives is part of the government’s efforts to make doing business in the Philippines easier and ease unemployment in the country. The IT-Business Process Association of the Philippines (IBPAP) asked the Senate to keep the tax incentives because IT-BPM investment pledges are now showing signs of recovery. IBPAP said investor perception on doing business in the country has been improving following the filing of Senate Bill 1592 or the Tax Reform for Acceleration and Inclusion bill, which retained the current incentives.
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