The Cabinet-level Fiscal Incentives Review Board (FIRB) maintained during its October 15 meeting the FIRB Resolution No. 19-21 that allows registered business enterprises (RBEs) of the Information Technology and Business Process Management (IT-BPM) sector to continue implementing work from home (WFH) arrangements without adversely affecting their fiscal incentives until 31 …Read More »

The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for the rail operations of an P81-billion subway project in Makati City that is expected to begin commercial operations in January 2026. A majority of the five-member FIRB chaired by Finance Secretary Carlos Dominguez III approved last …Read More »

The Fiscal Incentives Review Board (FIRB) has released the guidelines on FIRB Resolution No. 19-21, which allows Information Technology Business Process Management (IT-BPM) enterprises in economic zones to adopt a 90-percent work-from-home (WFH) arrangement up to March 31, 2022 because of the COVID-19 pandemic. Under the said resolution, the WFH …Read More »

The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila and worth P29.4 billion combined. Chaired by Finance Secretary Carlos Dominguez III, the FIRB approved during its third meeting last August 2 …Read More »

Fiscal incentives enjoyed by favored enterprises have cost the government P481.7 billion in foregone revenues in 2019 alone, or a year before the landmark congressional approval of the law that finally introduced bold reforms in the corporate income tax (CIT) system. This substantial amount already represents a decrease from the …Read More »

Finance Secretary Carlos G. Dominguez III and Trade and Industry Secretary Ramon M. Lopez signed on Monday, 21 June 2021, the Implementing Rules and Regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, more than two weeks ahead of the 10 July 2021 deadline set under …Read More »

The Fiscal Incentives Review Board (FIRB) has adopted the framework for the grant of incentives to qualified industries under the government’s Strategic Investment Priorities Plan (SIPP) that aims to attract high-value, labor-intensive investments that will create more jobs and further sharpen the Philippines’ competitiveness in the global market. As provided …Read More »

Finance Secretary Carlos Dominguez III said Monday the game-changing reforms carried out by the government over the last five years have cemented the country’s overall macroeconomic stability–and indicate that “expectations have been met and the promises kept” by President Duterte since he assumed office in 2016. These reforms, which the …Read More »

The newly reconstituted Fiscal Incentives Review Board (FIRB) aims to complete the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act by the third week of May, or around two months ahead of the 90-day deadline set under the law. The CREATE …Read More »

Finance Secretary Carlos Dominguez III wants the newly reconstituted Fiscal Incentives Review Board (FIRB) to meet at the earliest possible time to discuss the body’s expanded functions under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act once this law takes effect this month. CREATE was signed into law …Read More »