The Philippine Economic Zone Authority (Peza) has welcomed the recognition of the ecozone logistics services enterprises (ELSE) as an “eligible activity” in the 2022 Strategic Investment Priorities Plan (SIPP).
The Philippine Economic Zone Authority has welcomed the recognition of the ecozone logistics services enterprises as an “eligible activity” in the 2022 Strategic Investment Priorities Plan .
The BOI has recently released Memorandum Circular No. 2023-001 dated January 31,2023, which clarified the coverage of logistics services as one of the activities in support of exporters under the 2022 SIPP pursuant to Section 300 of the CREATE Act and Sections 2 and 3 of its Implementing Rules and Regulations.
These, Peza noted, are the types of enterprises that are authorized to register under the Special Economic Zone Act of 1995 or the Peza Charter. Now, with the clarification issued by the BOI and BIR, Panga said the existing ELSEs could enjoy their incentives such as zero value-added tax rating on qualified local purchases pursuant to the sunset provision.
The BOI MC affirms the entitlement to VAT zero rating incentives on local purchases of ELSEs registered under type of Board Resolution No. 97-366, as amended, or the Guidelines for Registration and Operations of Ecozone Facilities Enterprise Engaging in Warehouse Operations.
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