Philippines: Work-from-home arrangement extended for certain registered business enterprises
Resolution issued extends work-from-home arrangements for certain registered business enterprises
Resolution issued extends work-from-home arrangements
The Fiscal Incentives Review Board (FIRB) issued FIRB Resolution No. 026-2022 (14 September 2022) further extending the effect of FIRB Resolution No. 17-2022 which allows registered business enterprises in the information technology—business process management sector to adopt work-from-home (WFH) arrangements not exceeding 30% of their total workforce without adversely affecting their income tax incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act from 13 September 2022 to 31 December 2022.
FIRB previously granted a temporary extension of the WFH arrangement for such registered businesses that expired 13 September 2022. Read TaxNewsFlash
In addition, such registered businesses may be allowed to transfer their registration to the Board of Investments from the Investment Promotion Agency (IPA) administering the economic or freeport zone where their project is located until 31 December 2022 and adopt a 100% WFH arrangement, provided that the monitoring of the registered businesses’ compliance remains with the concerned IPA administering such economic or freeport zone where they are located.
Read an October 2022 report prepared by the KPMG member firm in the Philippines
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