Information technology and business process management companies are looking forward to a possible extension of the deadline for the paper transfer of registration from the Philippine Export Zone Authority to the Board of Investments.
This followed the request filed by Rep. Joey Salceda with the Fiscal Incentives Review Board for a one-month extension of the deadline.
The IT and Business Process Association of the Philippines said in a statement it constantly coordinated with PEZA and the BOI during the application period for updates on the progress of submissions from the IT-BPM registered business enterprises.
“During the same period, we were aware of RBEs who would rather not undertake the paper transfer of their registration to BOI and stay solely with PEZA as their investment promotion agency,” the IBPAP said.
It said the reported number of applicant enterprises seeking the paper transfer might also be due to the expectation of many RBEs on the possible continuing validity of the 30-percent work-from-home arrangement enabled by the letters of authority issued by PEZA. The matter is being clarified by PEZA through a legal opinion sought from the Department of Justice.
The BOI gave IT-BPM firms until Dec. 31, 2022 to transfer their registration, while PEZA set the cut-off period on Dec. 16.
“We have so far not received requests from members asking to extend the 16 December 2022 deadline, and we understand that PEZA has already accepted a few applications filed after the said deadline,” the group said.
The group said it would continue to work with government agencies for a resolution that would be for the benefit of the RBEs.
“We truly appreciate how PEZA and BOI have been helping the industry throughout this whole undertaking,” the IBPAP said.
PEZA said it had processed about P98 billion worth of projects that applied for transfer to BOI in pursuit of higher work-from-home arrangement threshold of up to 100 percent as of Dec. 15.
PEZA endorsed 786 companies to the BOI, while 627 received their certificates of registration from the BOI.