Information technology-business process management (IT-BPM) firms can continue to operate on work-from-home (WFH) arrangements although they will lose their tax incentives, the Department of Finance (DOF) clarified Tuesday.
According to Finance Secretary Carlos Dominguez III, the industry can opt to stay with the WFH setup because they are given the freedom to determine their working arrangements.
Citing the Tax Code, Dominguez said tax incentives are provided on the condition that operations are "exclusively conducted or operated within the geographical boundaries of the zone or freeport." “We hope that IT-BPM companies registered with the IPAs can support us in this whole-of-nation effort of helping Filipinos recover from the pandemic and easing the impact on them of the current crisis,” Dominguez said.for the return of employees to their workplace, calling it a “significant step” towards the country’s path to post-pandemic “normalcy” two years after the COVID-19 pandemic hit.
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