The work from home (WFH) resolution signals next level growth to the Business Process Outsourcing Industry Group as they were seamlessly transferred to the Board Of Investments (BOI), according to IT and Business Process Association of the Philippines (IBPAP) President, Jack Madrid.
Madrid said that the transfer allows IT-BPM’s firms to implement WFH arrangements with no cap, tax incentives included.
“The announcement by Secretary Diokno was indeed historic and significant progress for the IT-BPM industry. It’s very significant because it finally reduces the overhang of uncertainty that many of our locators and investors were concerned about…Tax incentives are critical to attract and retain investors in any industry,” Mardrid told the ABS-CBN News Channel (ANC).
Finance Secretary Benjamin Diokno’s announcement allowing the transfer from PEZA to BOI resolves issues and is bound to spurt growth to the IT-BPM industry and its investors.