TAX breaks await businesses that will partner with the government on enterprise-based education and training of workers and students under a new law signed recently by President Ferdinand Marcos Jr., according to Camarines Sur Rep. Luis Raymund Villafuerte.
In a statement, Villafuerte said that under Republic Act 12063, or the Enterprise-Based Education and Training Framework Act, which Marcos signed in November, participating private companies can avail of huge income tax deductions — equivalent to 50 percent of their actual training expenses between now and end-2027, and a higher 75 percent starting in January 2028.
The Department of Finance, Bureaus of Internal Revenue and Customs, and the Technical Skills and Development Authority are tasked to consult relevant stakeholders on formulating the rules and regulations, including the streamlining of processes, to encourage enterprises to support and participate in the EBET.
In EBET Program To Get Tax Breaks
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