The Fiscal Incentives Review Board (FIRB) has approved nearly ₱21 billion in tax subsidies requested by 10 government institutions, exempting these agencies from paying taxes and duties. As of May 21, the FIRB, chaired by Finance Secretary Ralph G. Recto, has approved ₱20.9 billion in tax...
The Department of Finance (DOF) said that all pending tax incentive applications that were previously referred to the Fiscal Incentives Review Board (FIRB) but do not meet the new investment capital threshold will be returned to the Investment Promotion Agencies (IPAs). According to the DOF, this...
The Department of Finance (DOF) has reported that the application for tax incentives for 45 projects, with a combined investment capital of P721.3 billion, has been approved by the Fiscal Incentives Review Board (FIRB). In a statement on Wednesday, Oct. 25, the DOF said these projects are...
The Philippine Economic Zone Authority (PEZA) expects a softening up by the Fiscal Incentives Review Board (FIRB) on its position on the work-from-home (WFH) policy for IT-business process management (IT-BPMs) firms registered with the agency. PEZA Director General Tereso O. Panga said that its plea...
The Department of Trade and Industry (DTI) through Board of Investment (BOI) shall recommend for approval to the Fiscal Incentives Review Board (FIRB) an EV incentive strategy (EVIS), similar tax incentives driven to the Comprehensive Automotive Resurgence Strategy (CARS) Program, to ensure the...
The Fiscal Incentives Review Board (FIRB) has extended until Jan. 31, 2023 the deadline for the transfer of registration of Information Technology and Business Process Management (IT-BPM) firms from the Philippine Economic Zone Authority (PEZA) to the Board of Investments (BOI). FIRB announced...
The Fiscal Incentives Review Board (FIRB), chaired by the Department of Finance, has approved the tax incentive application of TDK Philippines Corp. (TPC). In a statement Tuesday, Dec. 6, Finance Assistant Secretary Juvy Danofrata said the FIRB approved the fiscal incentives for TPC’s P2.5...
The Department of Finance has rejected calls by industry groups to review the revised fiscal incentives tax regime and reportorial requirements for the grant of incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. Finance Secretary Benjamin E. Diokno, who also...
The Fiscal Incentives Review Board (FIRB) revealed that the Philippine Economic Zone Authority (PEZA) is not tracking the inflow of actual investments made by its registered business enterprises (RBEs). In a statement, Finance Assistant Secretary and FIRB Secretariat Head Juvy Danofrata said PEZA...
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...
