PH lawmaker asks to extend deadline for BPO firms’ shift to BOI
MANILA, PHILIPPINES — Albay Representative and House Committee on Ways and Means Chairman Joey Salceda is appealing for an extension on the deadline for Business Process Outsourcing (BPO) firms to transfer from the Philippine Economic Zone Authority (PEZA) to the Board of Investments (BOI).
Addressing the Department of Finance (DOF) and the Fiscal Incentives Review Board (FIRB), Salceda proposed the deadline be moved from December 31 to January 31 so that more companies can keep their tax incentives while retaining their work-from-home (WFH) arrangements.
Citing PEZA, Salceda said only about 41% of BPOs had submitted their requirements on time. On the other hand, around 640 companies have not yet submitted their requirements which puts their WFH status and tax incentives in danger.
“PEZA also needs more time because they have so far been able to process around 70% and endorse them to the BOI,” Salceda added.
The lawmaker also stated that protecting WFH jobs is “important” for reducing traffic, solo parents or caretakers, and for equalizing opportunities for workers in rural and urban areas.
WFH could also draw in companies who want to “recruit from a more diverse talent pool.” Moreover, the lawmaker emphasized that keeping workers at home is also a cost-competitiveness measure.
“God knows we need that relief, given increased power costs and the many holidays that employers need to pay for.”
Salceda also asked the PEZA to expedite the remaining applications still bound for submission from the PEZA to the BOI.
