New tax law should include support for IT-BPO industry
Industry groups have asked lawmakers to include in Senate Bill (SB) 1357 the PHP5bn (US$98m) structural adjustment fund to support the information technology and business process outsourcing (IT-BPO) industry. SB 1357 refers to the Corporate Income Tax and Incentives Rationalization Act (Citira) bill.
The industry groups said the PHP5bn fund can be used by firms for training to graduate IT-BPO workers from standard voice calls to higher value-added services. They also called on lawmakers to allow the Philippine Economic Zone Authority (PEZA) to keep its power to process and approve applications for registration of projects and activities.
The position paper was crafted by the Joint Foreign Chambers of the Philippines, Information Technology and Business Process Association of the Philippines, and the Semiconductor and Electronics Industries in the Philippines Foundation Inc.
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