The government extended incentives to 25 various projects nationwide with total investments of P287.947 billion during the first year of the Marcos Jr. administration. The projected amount of incentives or the foregone revenues by the state was at nearly P30 billion, according to the Department of Finance (DOF). Finance officials…
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 PEZ
FOREIGN investments in the country are mainly hampered by the Covid-19 pandemic, high costs of doing business and foreign equity restrictions, investment promotion agencies (IPAs) said. Finance Assistant Secretary and Fiscal Incentives Review Board (FIRB) Head Juvy Danofrata said during the FIRB meeting last December 15 that investment promotion agencies…
The inter-agency Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives to a P10-billion cement manufacturing project of San Miguel Equity Investments, Inc. in Mindanao, the Department of Finance (DOF) announced. In a statement, the DOF said on Monday, Jan. 17, that the FIRB,