PEZA proposes VAT exemption for ecozones

THE Philippine Economic Zone Authority (PEZA) urged government to exempt economic zones and industries from the value-added tax (VAT), PEZA Director General Charito Plaza said.

“The entire tax reform is okay, except that we will ask for an exemption from VAT coverage for economic zones and our industries because this is one big attraction of investors, why they’re investing with us, because of the exemption from VAT,” Plaza said early this week.