MANILA - The Department of Finance on Friday said outsourcing firm Concentrix decided to forego its tax perks in exchange for continued remote work for its employees.
In a statement, DOF Assistant Secretary Juvy Danofrata said the Fiscal Incentives and Review Board (FIRB) welcomed the decision.
“We support the decision of Concentrix to carry on with its flexible work arrangements. We respect that they are supportive of their employees who want such a work setup in this post-pandemic situation,” said Danofrata, who also heads the FIRB secretariat.
“This goes to show that tax perks are not that important to investors doing business in the Philippines," she added.
The government has called for ecozone locators to return to work after the WFH order granted during the pandemic expired in March. Failure to comply will result in losing tax perks.
It said the return-to-site order is in accordance with the country's laws, which state that activities of incentivized firms should be done within ecozones.
Several firms have secured a letter of authority (LOA) to extend WFH for 30 percent of workers until September while stakeholders are discussing a more concrete hybrid work arrangement.
Stakeholders have argued that the remote arrangement did not diminish the productivity of workers during the pandemic.
According to the IT and Business Process Association of the Philippines (IBPAP), revenues of the sector jumped to $29.49 billion in 2021.