Investments that create jobs and have a “measured capacity” could prequalify for tax incentives under this year’s list of priority areas, the Board of Investments (BOI) said Monday.
BOI executive director Lucita Reyes told reporters that investments that have either job creation potential or measured capacity shall prequalify for tax perks under the 2011 Investment Priorities Plan (IPP), the drafting of which is ongoing.
According to the Omnibus Investments Code of 1987, measured capacity is the “estimated additional volume of production or service which the [BOI] determines to be desirable in each preferred area of investment in order to supply the needs of the economy at reasonable prices…”
Meanwhile, prequalification is a means to rationalize the grant of fiscal perks in line with efforts to plug revenue leaks amid a huge budget deficit.
“Unlike before, once a project is listed [on the IPP], it is automatically qualified,” Reyes said. — JE/VS, GMANews.TV
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.
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