EXCERPT

The interagency Fiscal Incentives Review Board (FIRB), which oversees the grant of tax breaks to qualified businesses, earlier ruled that work-from-home among BPO firms operating inside economic zones was only a temporary measure amid lockdowns imposed during the past two years to contain the spread of COVID-19.

As such, BPO players can only keep their tax incentives intact if all of their employees return to the workplace.

FIRB secretariat head and Finance Assistant Secretary Juvy Danofrata had noted that under Section 309 of the Tax Code, as amended by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, IPA-registered projects and activities must be conducted within the geographical boundaries of the ecozone or freeport to be entitled to fiscal incentives.

READ FULL ARTICLE HERE