The Fiscal Incentives Review Board said 10 investment promotion agencies including the Board of Investments and the Philippine Economic Export Zone Authority are non-compliant with reporting requirements.
The Fiscal Incentives Review Board said 10 investment promotion agencies including the Board of Investments and the Philippine Economic Export Zone Authority are non-compliant with the reporting requirements of the Corporate Recovery and Tax Incentives for Enterprises Law.
The compliant IPAs as: the Bases Conversion and Development Authority , John Hay Management Corp. , Poro Point Management Corp. , and PHIVIDEC Industrial Authority . “PEZA—being the IPA with the largest number of RBEs—has other pending submissions after presenting its investment promotion efforts to the FIRB, such as its cost-and-benefit analysis on its investments and granted tax incentives, as well as its report on the successful/ongoing technology transfer to improve the country’s competitiveness, which it also failed to submit last year,” said DOF.
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