Peza chief to clarify IT-BPM tax updates at Sept. 9 briefing

Government efforts to sustain the Philippines as a leading destination for IT-Business Process Management (IT-BPM) firms will be disclosed by Charito Plaza, director general of the Philippine Economic Zone Authority (Peza), at a virtual briefing on Sept. 9.

As head of the lead agency tasked to attract investors to the country, Plaza will clarify implementing rules and regulations of the Corporate Recovery and Tax Incentives for Enterprise (CREATE) law.

LPC noted the importance of the briefing now that BPOs and other firms are once again expanding their presence in the country after registering flat growth in 2020. IT-BPMs are driving the office sector with 44 percent of demand in the first half of 2021. Economic stability in the West and the sustained rollout of the vaccines in the Philippines have prompted their return. They will be on expansion mode up to year-end, according to LPC studies.

Provisions that keenly interest BPO and other firms such as the VAT Zero rating, Work-From-Home policy and other updates will be discussed at the annual briefing organized by IBPAP and LPC for members and other stakeholders. Tax experts have also been invited to participate in the forum to provide more insights to IBPAP’s over 300 member companies.

IBPAP plays a pivotal role in making the country an attractive investment destination for IT-BPM services. It coordinates with other stakeholders to ensure a steady and high-quality labor supply and country visibility. It also assists investors by providing briefings, relevant research and introductions to key government and industry officials.

The Sept. 9 virtual briefing is a joint undertaking of IT and Business Process Association of the Philippines (IBPAP) and Leechiu Property Consultants. LPC has carefully monitored the expansion of IT-BPM firms in the Philippines and provided them valuable advice on new office supply and projected office demand.

For more details on the Sept. 9 briefing, please contact [email protected].