PH urged to include IT-BPO in 2014 Investment Priorities Plan

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PH urged to include IT-BPO in 2014 Investment Priorities Plan
SHORE Official
by SHORE Official
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Information technology and business process outsourcing (IT-BPO) industry advocates are urging the government to include IT-BPO in the 2014 Investment Priorities Plan’s (IPP’s) preferred activities to enable the industry to continue receiving government incentives such as income-tax holidays, option to pay 5% tax on gross income for companies operating from Philippine Economic Zone Authority (PEZA)-accredited special economic zones or technoparks, and duty-free importation of capital equipment.

The Information Technology and Business Process Association of the Philippines (IBPAP) submitted to Department of Trade and Industry Undersecretary Adrian S. Cristobal, managing director of the Board of Investments (BOI), the IT-BPO Roadmap for 2016. The Roadmap shows the industry’s huge contributions to the country, and demonstrates how government could receive from the IT-BPO industry up to five times its return on incentives. Aside from hiring over 1 million full-time employees by the end of 2014, the outsourcing industry is expecting to exceed its end-2013 total of US$13.3 billion in revenues. The government’s continued grant of incentives is essential for the industry to achieve IBPAP’s target of US$25 billion in annual revenues and 1.3 million jobs by 2016.

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