DTI will not support call to retain tax perks for BPOs
The Department of Trade and Industry (DTI) will not support the call of the Information Technology and Business Process Association of the Philippines (IBPAP) to retain the tax incentives for the industry. DTI Secretary Ramon Lopez said the fiscal incentives given to the business process outsourcing (BPO) sector will be among the first to be removed under the government’s tax reform program. IBPAP earlier said the removal of tax exemption would make the country’s IT-BPM industry less competitive compared to other countries. Without the exemption, transactions would now be subject to a VAT equivalent to 12% of gross receipts.
Related news
- Legal Process Outsourcing to exceed USD40b target by 2024 · 23 May
- IT-BPM, food sectors attract Israeli businessmen · 23 May
- Possible investments in the province of Iloilo · 21 May
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
