MANILA, Philippines – The Department of Trade and Industry (DTI) has warned against double dipping of incentives, arguing that when there is a guaranteed rate of return, investors are no longer entitled to income tax holidays (ITH). Read the rest of this entry »
DTI warns against double dipping of incentives
October 24, 2011
Government waives P20B in ITH last year
July 12, 2011
MANILA, Philippines – The government has waived P20 billion in income tax holiday (ITH) last year in exchange for P302 billion worth of Board of Investments (BOI) approved investments. Read the rest of this entry »
Aquino includes 2 in incentive plan
June 24, 2011
President Benigno Aquino III has ordered the Trade Department to include the creative industries and disaster-mitigating and recovery projects in the 2011 Investment Priorities Plan, bringing to 13 the number of activities eligible for incentives this year from 11. Read the rest of this entry »
House OKs Investment and Incentives Code of the Philippines
June 8, 2011
MANILA, Philippines - The House committee on ways and means yesterday approved the proposed Investments and Incentives Code of the Philippines, one of 23 priority bills of the Aquino administration that aims to enhance the economy’s global competitiveness through investment promotion and industrial development activities. Read the rest of this entry »
IMF, World Bank push fiscal perks bill
June 7, 2011
THE International Monetary Fund (IMF) and the World Bank prodded the Philippines to reform its fiscal incentive system amid a redundancy that has rendered tax administration inefficient in raising revenues. Read the rest of this entry »
Govt to cut tax incentives, exemptions
May 4, 2011
THE government will cut the tax exemptions and incentives being extended to businesses and investors instead of imposing new taxes, President Benigno Aquino III said Tuesday. Read the rest of this entry »
Lack of incentives driving away Japanese investors
April 5, 2011
MANILA, Philippines – The Japan International Cooperation Agency (JICA) said that even if President Aquino is wooing displaced Japanese firms to locate in the country, the absence of a Philippine rescue incentive package makes other countries more attractive. Read the rest of this entry »
Only investments with 5% minimum value added to get incentives, says DTI
March 22, 2011
MANILA, Philippines – Trade Secretary Gregory L. Domingo said that the Department of Trade and Industry (DTI) is considering giving tax incentives to investments that has a minimum of five-percent value added. Read the rest of this entry »
Government can save up to P5B if incentives scheme for local firms is amended – DTI
March 9, 2011
MANILA, Philippines – The government can save up to P5 billion if the incentives scheme for domestic registered enterprises is amended, a joint Department of Trade and Industry (DTI) and Department of Finance (DOF) Fiscal Incentives Reform (FIR) report showed. Read the rest of this entry »
Tax incentives schemes to be harmonized
March 8, 2011
MANILA, Philippines – Income tax incentives granted to investors regardless of location would be reduced while the five percent on gross income earned (GIE) would be capped to a maximum of 25 years at reduced rate. Read the rest of this entry »
