BPOs unlikely to forego tax perks — IBPAP
The Information Technology and Business Process Association of the Philippines (IBPAP) said that its members are not likely to sacrifice their tax incentives.
In an interview with One News PH, IBPAP President Jack Madrid said that providing tax incentives is a “very important factor for continued investment in the country.”
This comes as the Department of Finance (DOF) said that tax incentives are “not that important” to foreign investors doing business in the Philippines.
The DOF cited BPO giant Concentrix as an example as they decided to give up its tax perks to continue with its hybrid work arrangements.
Madrid stated that the decision of Concentrix “stemmed from the company’s decision to heed its employees’ wishes after the government ordered economic zone locators to resume on-site work.”
As for other existing and prospective investors, Madrid said that fiscal incentives would continue to play an important role in attracting them to the country.
At the same time, the IBPAP chief said that they are already at ease with the 70% on-site and 30% work-from-home (WFH) arrangement allowed by the Philippine Economic Zone Authority (PEZA) for registered business enterprises (RBEs).
He added that they continue to be in dialogue with the current and incoming administrations on the importance of flexibility in the workplace.
