Metro Manila (CNN Philippines, July 31) — The Fiscal Incentives Review Board (FIRB) has granted tax perks to 25 projects worth a total investment capital of ₱287.9 billion since Ferdinand Marcos Jr. assumed the presidency last year, according to Finance Secretary Benjamin Dikno.
The projects are seen to generate around 24,600 jobs in telecommunications, data centers, manufacrturing, infrastructure, tourism, hospitals, mass housing, energy, and information technology and business process management, Diokno said Friday.
For beefing up the telco industry, the finance chief said two players, Unity Digital Infrastructure and LBS Digitial Infrastructure Corporation, have secured tax incentives for their projects worth ₱147 billion and ₱36 billion, respectively.
Other big investments include nationwide energy projects by Enovate Motors Corporation and Century Summit Carrier, as well as Evolution Data Centres Philippines and Digital Edge Philippines for data center projects.
Tax incentives granted for the projects already reached ₱29.97 billion.
Tax perks ranged from duty exemption on importation, value-added tax (VAT) exemption on importation, and VAT zero rating on local purchases, to name a few.
