Philippine BPOs gain 50% WFH flexibility with CREATE MORE IRR
MANILA, PHILIPPINES — The implementing rules and regulations (IRR) for the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act have been officially signed.
Secretary Frederick Go, head of the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), confirmed this development on Monday.
“We signed the IRR today, or rather I should say the [Department of Finance] and the [Department of Trade and Industry] signed the IRR,” Go said. He emphasized that the IRR aligns with CREATE MORE’s goal of attracting investments and creating jobs for Filipinos.
BPOs celebrate 50% work-from-home incentive
A significant update under CREATE MORE allows investment promotion agencies to permit registered locators, including business process outsourcing (BPO) companies in the Philippines, to implement a 50% work-from-home (WFH) setup while retaining tax incentives.
“I think the [BPO sector] should be very happy with 50 percent work from home. I believe that now, it’s actually less than that already for most BPOs,” Go remarked.
The US$30-billion BPO industry has long advocated for flexible WFH policies to remain competitive in the global market. In response, over 440 companies transferred their registrations from the Philippine Economic Zone Authority (PEZA) to the Board of Investments (BOI). Unlike PEZA, BOI-registered firms are not restricted to operating within economic zones to qualify for tax benefits.
Roadshows planned to promote CREATE MORE globally
To raise awareness about CREATE MORE and attract foreign investments, Go also announced plans for international roadshows targeting key markets such as Korea, Japan, China, Europe, the Middle East, and the United States.
“It’s useless to have a law and an IRR that nobody knows about. So, our job now is to announce it to the world,” he explained. The roadshows are expected to begin by March or April this year.
Economic impact of CREATE MORE Act
The CREATE MORE Act is designed to modernize the Philippine economy by encouraging investments in key sectors like IT-BPM. By offering flexible work arrangements and streamlined tax incentives, it aims to sustain job creation and enhance global competitiveness in industries critical to economic recovery.
This development underscores the government’s commitment to fostering a business-friendly environment while addressing evolving workplace demands in a post-pandemic world.
Read more here.
Related news
- Cognizant cuts India office space in 2024 amid global work shift · 19 Feb
- Accenture CEO Julie Sweet reveals early-stage breast cancer battle · 19 Feb
- Rate cut uncertainty, tariff wars stall Indian IT recovery · 18 Feb
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.
