BPOs given year-end deadline to process BOI transfer
The Philippine Economic Zone Authority (PEZA) is giving registered Business Process Outsourcing (BPO) firms until December 31, 2022, to process their transfer to the Board of Investments (BOI).
As highlighted by multiple agencies, this transition will allow BPO firms to keep their tax perks under a work-from-home setup.
However, the ecozone authority noted that as these agencies will not cancel their PEZA registrations, the agency will keep its investment facilitation and revenue generation functions among the BPO companies.
This means that PEZA will keep its monitoring and reporting functions concerning the subject firms’ performance and other compliance requirements.
Companies must also maintain an office inside PEZA-registered buildings or facilities.
PEZA OIC Tereso Panga said that companies failing to comply with these mandatory requirements would see their registration with PEZA and the BOI canceled.
Panga also assured the IT-BPO industry that it has the full support and assistance of PEZA in transferring its registration to BOI.
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