BOI Incentives to Foreign Investors
INCENTIVES FOR INVESTORS
The government has come up with a liberal program of fiscal and non-fiscal incentives to attract foreign capital and technology that complements local resources.
Different incentives schemes are available relative to the location and registration of the proposed business activity. Thus, there are several options for an enterprise to choose from :
A. Projects Registered at the Board of Investments (BOI)E.O. 226
The BOI, an agency under the Department of Trade and Industry, is the lead investments promotion agency of the country. As such, it is at the forefront of government’s efforts to attract direct investments into the country to contribute to economic growth and jobs creation, to help uplift the general economic welfare of the Filipinos.
The agency is designed to promote inward investments and assist local and foreign investors in their venture of the desirable areas of business, defined in the annually-prepared Investment Priorities Plan(IPP).
The BOI is mandated through the Omnibus Investments Code (or Executive Order 226) to encourage investments through tax exemption and other benefits in preferred areas of economic activity specified by the BOI in IPP.
The IPP, formulated annually by the BOI, through an inter-agency committee, and approved by the President, lists the priority activities for investments. It contains a listing of specific activities that can qualify for incentives under Book 1 of this Code.
Qualification
A Filipino enterprise can register their activity with the BOI if their project is listed as a preferred project in the current IPP. Said enterprise may engage in domestic –oriented activities listed in the IPP whether classified as pioneer or non-pioneer.
However, an activity which is not listed, may also be entitled to incentives if the following conditions are met :
At least 50% of the production is for export (for 60% Filipino-40% Foreign-owned enterprises); or
At least
The government has come up with a liberal program of fiscal and non-fiscal incentives to attract foreign capital and technology that complements local resources.
Different incentives schemes are available relative to the location and registration of the proposed business activity. Thus, there are several options for an enterprise to choose from :
A. Projects Registered at the Board of Investments (BOI)E.O. 226
The BOI, an agency under the Department of Trade and Industry, is the lead investments promotion agency of the country. As such, it is at the forefront of government’s efforts to attract direct investments into the country to contribute to economic growth and jobs creation, to help uplift the general economic welfare of the Filipinos.
The agency is designed to promote inward investments and assist local and foreign investors in their venture of the desirable areas of business, defined in the annually-prepared Investment Priorities Plan(IPP).
The BOI is mandated through the Omnibus Investments Code (or Executive Order 226) to encourage investments through tax exemption and other benefits in preferred areas of economic activity specified by the BOI in IPP.
The IPP, formulated annually by the BOI, through an inter-agency committee, and approved by the President, lists the priority activities for investments. It contains a listing of specific activities that can qualify for incentives under Book 1 of this Code.
Qualification
A Filipino enterprise can register their activity with the BOI if their project is listed as a preferred project in the current IPP. Said enterprise may engage in domestic –oriented activities listed in the IPP whether classified as pioneer or non-pioneer.
However, an activity which is not listed, may also be entitled to incentives if the following conditions are met :
At least 50% of the production is for export (for 60% Filipino-40% Foreign-owned enterprises); or
At least