In a statement on Thursday, PEZA asked the Fiscal Incentives Review Board to allow IT-BPO firms to operate under work-from-home arrangements until Sept. 12.
“The approval of the PEZA Board of our proposed temporary measure was submitted to the FIRB for further approval as required under the rules. We have yet to receive formal notice on the FIRB’s decision regarding our recommendation,” Ms. Plaza said. “Rule 23… provides that an investment promotion agency may implement temporary measures to support the recovery of registered business enterprises from exceptional circumstances, upon prior approval of the FIRB,” PEZA said.
The bill cites the need for amendments because Section 309 only allows CREATE incentives to be awarded to activities conducted within economic zones.