The Fiscal Incentives Review Board (FIRB) welcomed the decision of Concentrix, a major business process outsourcing (BPO) firm, to give up its tax perks in exchange for a continued hybrid work setup for its employees. Finance Assistant Secretary and FIRB Secretariat Juvy Danofrata said...
The government lost billions of pesos in power subsidies and tax incentives to now-defunct Hanjin Heavy Industries and Construction Philippines Inc. (HHIC-Phil), the Fiscal Incentives Review Board (FIRB) said. In a statement Tuesday, June 7, Finance Assistant Secretary and FIRB Secretariat Head...
The Fiscal Incentives Review Board (FIRB) has instructed all investment promotion agencies (IPAs) to submit a copy of the schedule of rates for their various services relating to the grant and administration of tax incentives. In a statement, Finance Assistant Secretary and FIRB Secretariat Head...
Investors and enterprises can now access the Fiscal Incentives Registration and Monitoring System (FIRMS), an online registration where investors can monitor their submitted applications for tax incentives, the Department of Finance (DOF) said. Finance Assistant Secretary and Fiscal Incentives...
The Fiscal Incentives Review Board (FIRB) is not bowing down to pressure as the interagency body stood firm on its decision that the work-from-home (WFH) setup for registered information technology-business process outsourcing (IT-BPO) firms was only temporary. In a statement on Thursday, April 28,...
Personal income tax (PIT), which is withheld from an employee's salary and paid to the government, remained a major revenue stream for the government despite the lowering of rates on individual taxpayers and the pandemic-induced economic slowdown. Data released from the Department of Finance (DOF)...
FIRB identifies 3 barriers to foreign investments By Chino S. Leyco The prolonged pandemic, high costs of doing business, and foreign equity restrictions in the Philippines are the main barriers to foreign investments in the country, the Fiscal Incentives Review Board (FIRB) said on Wednesday, Jan....
The Philippines has called on the Association of Southeast Asian Nations (ASEAN) human rights body and relevant sectoral bodies to advance human rights in protecting the environment and promoting sustainable development in the region. AICHR Temporary Philippine Representative and Assistant...
More than half of the initial list of tax-delinquent social media influencers have yet to begin the sign-up process with the Bureau of the Internal Revenue (BIR) despite crackdown, the Department of Finance (DOF) said. Finance Assistant Secretary Dakila Elteen M. Napao said late Friday, Oct. 8,...
PMFTC Inc., the local affiliate of Philip Morris International (PMI), remained the country’s largest cigarette manufacturer in terms of sin tax contributions to government revenue, data from the Department of Finance (DOF) showed. PMFTC Based on the DOF’s analysis, the company behind the...
Malacanang has ratified the Regional Comprehensive Economic Cooperation (RCEP), a mega free trade deal seeking to grant zero duty on goods traded among 15 countries that account for 29 percent of global gross domestic product. The document was ratified by President Rodrigo Duterte on September 2...
The Department of Foreign Affairs (DFA) will request the extradition of the 61-year-old American diplomat who was indicted in the United States for having sex with a Filipino minor while posted in Manila if Philippine authorities could determine that the offense committed is “extraditable.”...
