PEZA repeats call to exempt locators from disincentives

PEZA repeats call to exempt locators from disincentives

The Philippine Economic Zone Authority (PEZA) reiterated its call to exempt exporters from the provisions of the Corporate Recovery and Tax Incentives for Enterprises Act (Create) bill.

PEZA Director Charito Plaza argued that investors should be permitted to keep their current fiscal incentives and, therefore, be exempted from the new tax regime to be introduced by the Create bill.

Plaza reiterated her call as investments registered in economic zones have slumped by over a fourth after lockdown measures against the Covid-19 pandemic brought the economy to near-atrophy.

On the positive side, Plaza disclosed that exports shipped by economic zone firms from January to September grew close to 1 percent to $40.79 billion (about P1.965 trillion), from $40.54 billion (about P1.953 trillion at $1=P48.18).

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