The Fiscal Incentives Review Board (FIRB) Secretariat has successfully conducted 15 virtual town hall meetings attended by 2,400 participants combined, in an effort to brief and assist its stakeholders on tax incentives application and other FIRB processes under the new Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Participants …Read More »

The Fiscal Incentives Review Board (FIRB) Secretariat has revealed that only four investment promotion agencies (IPAs) have complied fully with the requirement under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law for them to submit complete formal reports to the Cabinet-level inter-agency body. According to Finance Assistant Secretary …Read More »

The Philippine Economic Zone Authority (PEZA) does not track the inflow of actual investments made by its registered business enterprises (RBEs) since the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to determine if these are commensurate to the value of fiscal incentives that such ecozone …Read More »

Department of Finance (DOF) Assistant Secretary Juvy Danofrata has said that the FIRB welcomes the decision of Concentrix to give up its tax perks in exchange for a continued hybrid work setup for its employees. “We support the decision of Concentrix to carry on with its flexible work arrangements. We …Read More »

The Fiscal Incentives Review Board (FIRB) Secretariat has reported that the now-defunct Hanjin Heavy Industries and Construction Philippines Inc. (HHIC-Phil) received tax incentives amounting to P370 million in 2015 alone. This is based on their audited financial statements on their operations for 2015, earning a net taxable income of P1.234 …Read More »

With the goal to formulate sound guidelines on the fees collected by the different investment promotion agencies (IPAs) from their respective registered business enterprises (RBEs), the Fiscal Incentives Review Board (FIRB) has instructed all IPAs to submit a copy of the schedule of rates for their various services relating to …Read More »

Upon the recommendation of the Board of Investments (BOI), the Fiscal Incentives Review Board (FIRB) has approved the tax incentives applications of four telecommunications companies (telcos), including Converge ICT Solutions, Inc. for its nationwide rollout of fiber optic network for high speed broadband services interconnecting the country from Luzon to …Read More »

The Fiscal Incentives Review Board (FIRB) has put up its Fiscal Incentives Registration and Monitoring System (FIRMS) as one of the major accomplishments of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act since it was signed into law last year by President Duterte, according to Finance Assistant Secretary …Read More »

The Fiscal Incentives Review Board (FIRB), upon the endorsement of the Subic Bay Metropolitan Authority (SBMA), has approved the grant of tax incentives to Project AGILA for the redevelopment and operations of the Hanjin shipyard in the Subic Bay freeport zone. This project is funded by United States (US)-based private …Read More »

Finance Assistant Secretary Juvy Danofrata has reiterated that the Fiscal Incentives Review Board (FIRB) had allowed the work-from-home (WFH) setup for registered business enterprises (RBEs) only as a time-bound temporary measure to address the work constraints arising from the strict lockdowns or mobility restrictions that were imposed nationwide at the …Read More »