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Tax Incentive Programs in the Philippines

The Philippines government has come up with a liberal program of fiscal and non-fiscal incentives to attract foreign investment in either capital or technology advancements. Different incentives schemes are available relative to the location and registration of the proposed business activity.

Among them are:

  • Income Tax Holiday
  • Reduction of the Rates of Duty on Capital Equipment, Spare-parts and Accessories
  • Exemption from wharf dues and export tax, duty, impost and fees
  • Exemption from taxes and duties on imported spare parts
  • Additional Deductions from Taxable Income
  • VAT zero-rating of local purchases subject to compliance with BIR and PEZA requirements
  • Exemption from expanded withholding tax

So, what do you think ?

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