Group calls for the retention of BPO tax incentives
The National ICT Confederation of the Philippines (NICP) is appealing for the retention of current fiscal incentives of foreign Information and Communications Technology-Business Process Management companies to maintain competitiveness and growth. NICP Public Sector and Policy Committee head Jocelle Batapa-Sigue cited that developing countries used tax incentives as a means to attract direct foreign investments to solve unemployment, engage in technology transfer and intensify development of preferred industries. She underscored that provincial locations that currently take advantage of national incentives under a centralized government structure will be affected by the reduction or removal of the current set of tax incentives that have been attracting business process outsourcing companies.
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