EXCERPT

The Fiscal Incentives Review Board (FIRB) recently directed the outsourcing sector to start exclusively operating within Philippine Economic Zone Authority (Peza)-designated IT zones beginning April 1 this year. This will end a two-year allowance during this COVID-19 pandemic to keep 90 percent of IT-business process management (BPM) staff under WFH mode and still retain their fiscal incentives.

The Peza, for its part, had been pushing for the extension of the pandemic WFH arrangement until Sept. 12 this year to no avail.

In a commentary dated March 14, Colliers assistant manager Miguel Bengzon said the FIRB’s decision was in line with the government’s thrust to reopen the economy and allow for more consumer activity given that higher vaccination coverage and lower local COVID-19 contagion had been achieved.

READ FULL ARTICLE HERE