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BusinessWorld
January 12, 2021 | 12:32 am
By
Reporter
AN ELECTRONICS exporters industry group is asking lawmakers to reconsider the potential cap on investments reviewed by investment promotions agencies (IPA).
Under Senate Bill 1357 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, IPAs like the Philippine Economic Zone Authority will review investment projects valued at P1 billion or lower, while the Fiscal Incentives Review Board (FIRB) approves larger projects.
Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) President Danilo C. Lachica said that the industry group is hoping for a higher threshold for quicker approval processes under the IPAs.
“We will send our inputs to the House of Representatives. Many investments are over the P1-billion cap. Majority will be at or below P5 billion,” he said in a mobile message on Monday. ....

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