Flexible work models and tax incentives will sustain the competitiveness of the IT-BPM industry, keeping their regulation in line with other markets, according to Colliers Philippines, a commercial real estate consultancy. READ:
“Colliers believes that stable fiscal policies, such as work-from-home arrangements, must be established for the Philippines to fully to global work trends and technological developments and to strengthen our competitiveness in retaining existing and attracting new IT-BPM locators,” it said in a report on Friday.
The industry posted a 9.1% increase in full-time employees to 1.44 million and a 10.6% increase in revenue to $29.49 billion in 2021. During the pandemic, PEZA locators were allowed to maintain a 70% on-site and 30% WFH arrangement until Sept. 12, without losing their tax incentives. To resolve the sector’s tax incentive issue, the Fiscal Incentives Review Board allowed the transfer of IT-BPM registrations to the BoI.
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