The content is for general information purposes only, and should not be used as a substitute for specific advice. Instead, the BIR stated that the enumeration provided is merely a set of examples; hence, other types of direct expenses can still be claimed as deductions under the 5% GIT regime. Our thought leadership materials provide useful information about emerging issues and possible solutions to your business needs. Mactan Economic Zone is set to become a township to cater to business owners and workers in the near future. 2020 - 016 dated 23 March 2020, PEZA-registered companies that decide to remain operational as well as PEZA-registered Ecozone Developers/Operators are further advised to immediate implement COVID-19 prevention measures such as: Ecozone developers shall regularly disinfect the economic zone's premises. Date of Coverage: 11/17/2020 - 11/17/2020 Updated General Information Sheet and company profile; the company or trade profile in case of sole proprietors or individuals, b. Based on the latest Tholons 2019 Report, Manila still places at the 2nd spot in the Top 100 Super Cities, next to Bangalore. In its ruling, the SC confirmed the non-exclusivity of the list of allowable deductions for purposes of computing PEZA-registered enterprises' 5% gross income tax. Tax Deadlines for 2023 in the Philippines. Purpose: Research Date of Coverage: 01/01/2020 - 12/04/2020 In some cases, PEZA may approve the sale of up to 30% of production in the domestic market. Xternal Co will support our clients in determining eligibility for PEZA registrationand organize all financial documents to be processed. Not only will it buttress government efforts to attract foreign investment, especially during a period of economic uncertainty, but also eliminate any double standard in our tax system, thereby realizing the purpose for which the CREATE Act was formulated in the first place. Purpose: Research and study September 21, 2020. Tracking no: #PEZA-059819858678, Requested from PEZA by D. Benavidez at 02:51 PM on The good thing is that in November 2020, the Supreme Court (SC) finally put an end to the issue when it held that the deductible costs and expenses in RR No. Browse all agencies or ask us. After company registration with PEZA, sometimes it is inevitable that these companies with registered activities with PEZA close shop. Enterprises that are registered with the Subic Bay Metropolitan Authority (SBMA) or Subic Bay Freeport Zone, are also subject to the special 5% tax and cannot avail of tax holidays. Surell 07:16 PM, Jan 17, 2022 Date of Coverage: 02/17/2023 - 02/17/2023 Updated PEZA registration c. Mayors Permit and Proof of lawful occupancy of office 632-8705-6000 OFFICE OF THE COMMISSIONER G/F OCOM Building, 16th Street February 17, 2023. Date of Coverage: 01/01/2015 - 09/21/2020 List of Importers and Brokers under Investigation. The agency even encourages more BPO companies to invest in the Philippines in order to promote and develop PEZA registered IT-BPOs in the Philippines. In addition, the position of having the list of expenses as non-exclusive is consistent with the PEZA Law, which states that costs and expenses directly related to the registered activity and are not administrative, marketing, selling, and/or operating expenses or incidental losses shall be allowed as deductions. from this government agency, Requested from PEZA by M. Lagos at 04:56 PM on Companies registered with the Philippine Economic Zone Authority (PEZA) may be entitled to income tax holidays of four, six, or eight years. In addition, companies must submit sets of Documentary, General and Technical, and Financial Requirements. G/F OCOM Building, 16th Street List of PEZA-registered Companies of 2020 Requested from PEZA by N. de Leon at 01:08 PM on October 26, 2020. All importers and customs brokers shall submit yearly within fifteen (15) days, to be counted from the date of approval of BOC accreditation, the following documents, to wit: a. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Required fields are marked *. PwC Philippines adheres to the highest quality standards and are committed to deliver innovative and responsive audit, tax, and business solutions. park cebu i.t. Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Despite the update on the regulations, during tax audits, BIR examiners still disallow certain direct expenses that are not included in the enumerated list, following the exclusivity position of RR No. Tracking no: #PEZA-455795633926, Requested from PEZA by B. Date of Coverage: 01/01/2019 - 12/31/2019 tower abacare data services . Or select the recommended agencies below: Not sure which one to send? October 15, 2017. Tracking no: #PEZA-865183002774, Requested from PEZA by J. Negad at 03:33 PM on Date of Coverage: 01/01/2020 - 11/04/2020 2 - The order implementing Freedom of Information in the Philippines. Access to this and all other statistics on 80,000 topics from, Show sources information Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. IT (INFORMATION TECHNOLOGY) SERVICE EXPORT IT service activities, of which 70% of total revenues is derived from clients abroad. Use Ask Statista Research Service, U.S. gross domestic product contributions 2000-2021, by sector, U.S. Manufacturing Purchasing Managers' Index (PMI) 2021-2023, U.S. monthly change in the manufacturing sector employment 2021-2023, U.S. monthly Producer Price Index for finished goods 2021-2023. Generally, PEZA follows a 7-step registration process: Submit application documents for pre-screening. Business process outsourcing firms, from SMEs to enterprises, have the opportunity to expand their businesses to prime locations and special ecozones within the country, enabling them to cater to more clients and create more jobs for the Filipinos in the farthest locations. At the end of the first quarter of 2019, PEZA announced that its economic zones will be converted into townships, with the Mactan City Economic Zone to be set as an example. Get up to speed in outsourcing with this all-in-one tool kit, Top 40 BPO companies in the Philippines (2022). The construction of IT parks and centers contribute to this ranking. As such, other direct expenses not on the list can also be deducted. Accessed March 01, 2023. https://www.statista.com/statistics/900981/philippines-manufacturing-companies-in-peza-registered-zones/, ASEAN. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses - clients - across the globe. BIR tax certification of no tax liabilities. PEZA, or the Philippine Economic Zone Authority, is an agency attached to the Department of Trade and Industry (DTI) tasked to facilitate locator companies operating in different special economic zones across the country. This also opens job opportunities for more Filipinos below the poverty line. IT-enabled services such as data entry, transcription, call center, etc. ASEAN. Fast forward to 2022, work from home (WFH) was proven effective, especially in the IT-BPO sector. G/F OCOM Building, 16th Street Purpose: Architectural Thesis Browse over 546 Browse all agencies or ask us. ("IT Service Activities" are activities which involve the use of any IT software and/or system for value addition). Purchases made by BOI- and PEZA-registered enterprises that relate to their registered activities. List of PEZA Registered Enterprise | Philippine Ports Authority Official Website. February 17, 2023. For enterprises registered with the Philippine Economic Zone Authority (PEZA) subject to 5% gross income tax (GIT), aside from issues on TP and the effects of the CREATE bill, one concern is determining expenses considered direct costs for purposes of computing GIT. Limited to BOI- and PEZA-registered enterprises and certain taxpayers under special laws. PEZA approval and specific incentives granted are on a case to case basis. PEZAs dynamic, responsive and client-oriented ethics have earned the trust and confidence of investors in its Special Economic Zones, the local business sector, and the foreign chambers of commerce in the Philippines. September 03, 2020. Chat with an outsourcing expert today! The go-to source for outsourcing information, news and guides, Thousands of news articles covering the entire industry, The leading remote work and outsourcing podcast, Read hundreds of articles on everything outsourcing, Ultimate guides to the outsourcing industry, Find out what you can save: 3 quotes, expert insight, 2,300+ BPOs. It takes the same position as BIR RR 2-05. Once approved, the application will be issued a PEZA Board Resolution. Purpose: Sales & Marketing / Business Development Date of Coverage: 01/01/2020 - 11/24/2020 Purpose: Marketing Philippine Economic Zone Authority (PEZA), formerly known as Export Processing Zone Authority (EPZA), is a government agency in the Philippines attached to the Department of Trade and Industry created to help promote investments in the export-oriented manufacturing industry into the country by assisting investors in registering and facilitating their business operations and providing tax . While the SC decision is an obvious victory for PEZA-registered companies, there is still a question on whether this position can also be applied to the export-oriented entities operating in other ecozones such as the Subic Freeport Zone (SFZ) and Clark Freeport Zone (CFZ). You need at least a Starter Account to use this feature. Tracking no: #PEZA-679557603750, Requested from PEZA by N. Villalobos at 09:16 AM on Php 55.822. Purpose: Thesis Purpose: Research Tracking no: #PEZA-739209075803, Requested from PEZA by G. Bilog at 05:25 PM on PEZA incentives, requirements and locations, Top 20 VOIP service providers for call centers, Income Tax Holiday (ITH) of up to six years, A special tax rate of 5% of gross income after ITH and exemption to pay all national and local taxes, Tax-free and duty-free importation of machinery, raw materials, and equipment, VAT zero-rating of local purchases of goods and services, Exemption from wharfage dues on import shipments of equipment, Employment of non-resident foreign nationals in supervisory, technical, or advisory positions, Extended visa assistance to foreign nationals, their spouses, and dependents, Information technology (IT) sector or the IT-BPOs. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . In this respect, the accounting rules that provide the proper classification of the cost of goods sold/service would help in determining the deductible direct costs. Tracking no: #PEZA-339778494282, Requested from PEZA by C. Aberilla at 09:51 PM on Copy of notice to all affected employees/workers before the effectivity date of cancellation/delisting or temporary closure of operation. Paste anywhere to share anywhere. Founded in 1995 under Republic Act 7916, PEZA is given the governments order of promoting, overseeing, and assisting foreign registered business enterprises and their operations. Park GLOBALRESOURCES, INC.] - Filipino; 21.11% - British; 5.02% - Mixed 2 1902 SOFTWARE 99.99985% - Danish; I.T. They can now live a comfortable life and even spend more time on recreation, bonding with their families, and developing their passion. Purpose: College research purposes Date of Coverage: 11/09/2022 - 11/19/2022 Tracking no: #PEZA-860654660165 PENDING Employees of PEZA locators in Pampanga Requested from PEZA by S. Lopez at 05:17 PM on January 30, 2023. October 26, 2020. The most notable 40 BPO companies in the Philippines, Coronavirus & BPO Outsourcing: What You Need To Know, Philippines: the top outsourcing destination. Pay application fee of 3,600 and secure official receipt. Purpose: Architectural Thesis However, an activity which is not listed, may also be entitled to incentives if the following conditions are met: For foreign-owned firms or those whose foreign participation exceeds 40% of the outstanding capital stock who intend to engage in domestic-oriented activities, they can only be registered with BOI if they propose to engage in an activity listed or classified in the IPP as pioneer. South Harbor, Port Area, Manila, Customs Memorandum Circular (CMC) 2018 and older, Philippine Trade Facilitation Committee (PTFC) Roadmap, R.A.10863 Customs Modernization and Tariff Act, Environmental and Social Management Framework, Guide to Understanding the Reference Values, List of Registered Balikbayan Box Deconsolidators with corresponding Consolidators as of September 22, 2017, List of Registered Balikbayan Box Deconsolidators with corresponding Consolidators as of August 30,2017, List of Registered Balikbayan Box Deconsolidators with corresponding Consolidators as of August 10, 2017, List of Registered Balikbayan Box Deconsolidators with corresponding Consolidators as of July 31,2017, List of Registered Balikbayan Box Deconsolidators with corresponding Consolidators as of July 24, 2017, List of Registered Balikbayan Box Deconsolidators as of June 30, 2017, List of Balikbayan Box Deconsolidators with Pending Registration Application as of June 30, 2017, List of Importers with Outdated Contact Information, List of Importers and Brokers under Investigation, Revocation/De-listing of Customs Accreditation as Importer as of May 05, 2017, Revocation/De-listing of Customs Accreditation as Importer as of May 12, 2017, Revocation/De-listing of Customs Accreditation as Importer as of August 04, 2017, AMO Approved Applications For Brokers And Importers, Annual Submission For Importers, Brokers, PEZA-Registered Companies, Reminders When Applying for Accreditation, Requirements for PEZA Registered Companies, Requirements for Registration in the CPRS of Govt Entities & other exempt entities, Procedure in Case of Change of Circumstance. Being a PEZA-registered company has its perks, and the BPO sector benefits the most from it. This is because all the various government entities for which the company was registered, including PEZA, will have to be notified of such closure and certain requirements must first be complied with before that particular government agency clears the company that would like to close. However, this time, the export requirement is at least 70% of actual production. February 07, 2023. An enterprise must register with PEZA and locate their operation in one of thePEZA zones, buildings, IT Parks, or Technology Parks to obtain tax breaks and incentives offered by PEZA. 7. Tracking no: #PEZA-694213357374, Requested from PEZA by A. Faraon at 10:46 AM on The poverty line for more Filipinos below the poverty line you need at least Starter. Job opportunities for more Filipinos below the poverty line recreation, bonding with families... 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