The Department of Finance (DoF) on Friday gave its assurance that the business process outsourcing (BPO) sector will keep its global competitiveness in the export market despite the implementation of a progressive tax reform program.
Contrary to apprehensions expressed by certain industry stakeholders, BPO companies’ foreign services in special economic zones (SEZs) in the country will remain exempted from the value-added tax (VAT), while those outside SEZs, including those registered under the Board of Investments (BOI) will retain their zero-rated status, the agency said in a statement.
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