THE Philippine Economic Zone Authority said there’s a need to revisit the Corporate Recovery and Tax Incentives for Enterprises law to make fiscal incentives “more competitive.”
“We are discussing this with the BIR and we hope we will be sustained soon, that all these inconsistencies will be resolved; that will now allow for full retention of incentives particularly on the availment of zero-vat by our locators,” the PEZA chief added. Last week, the PEZA chief said some locators have raised concerns, noting that they want the government to have uniform, simple and transparent guidelines for the conduct, particularly on tax assessment. Panga said there’s a need to resolve issues of locators related to the BIR’s rules on zero value-added tax rating incentive.
Source: News Formal (newsformal.com)
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