MALACAÑANG has released an executive order (EO) extending investors’ duty-free incentive for imported machinery and equipment, but only for a year or until Congress passes a law making it permanent.

Executive Order 22, signed by President Rodrigo Duterte last April 28, replaces EO 70 that expired last May 9. EO 70 granted the incentives to investors registered with the Board of Investments (BOI) for a five-year period beginning May 2012.

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