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MANILA - The Fiscal Incentives Review Board (FIRB) will harmonize all fees collected by investment promotion agencies (IPAs) from their registered investors "to ensure that rates are just and reasonable." The board has directed all IPAs to submit a copy of the fees they collected from registered business enterprises, with a detailed report on cost recovery and income generation. FIRB chair, Finance Secretary Carlos Dominguez III, said Friday the board wants to evaluate the fees collected by IPAs as part of its expanded policy-making and oversight functions under the Corporate Recovery and Tax Incentive for Enterprises (CREATE) law. "The need to evaluate and rationalize fees and charges collected by the IPAs is to ensure that there is equity and shared responsibility between the government and its stakeholders," Dominguez added. FIRB Secretariat head, Finance Assistant Secretary Juvy Danofrata, said the guidelines for the harmonization of charges in all IPAs would be

Juvy danofrataTax incentive for enterprisesFiscal incentives review boardFinance secretary carlos dominguezCorporate recoveryTax incentiveFinance assistant secretary juvy danofrataManila the fiscal incentives review board firb will harmonize all fees collected by investment promotion agencies ipas from their registered investors quot to ensure that rates are just and reasonable has directed submita copy of they business enterprisesItha detailed report on cost recovery and income generation firb chairInance secretary carlos dominguez iiiAid friday the board wants to evaluate fees collected by ipas as part of its expanded policy making and oversight functions under corporate recovery tax incentive for enterprises create law quot need rationalize charges is ensure that there equity shared responsibility between government stakeholdersUot dominguez added firb secretariat headFinance assistant secretary juvy danofrataAid the guidelines for harmonization of charges in all ipas would be drafted quot based on cost recovery principleUbject to reasonable rate of return quot revenue implications will also be considered in the adoption guidelines for setting feesUot danofrata added she said the firb would be in close coordination with ipas for this new policy quot regular consultations will conducted their views and suggestions considered to ensure that schedule of fees charges are uniform equitable all stakeholders