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Income tax holiday needed to lure investments, says BoI.
The Board of Investments (BoI) will continue pushing for the inclusion of the income tax holiday (ITH) incentive in the Senate bill amending Executive Order 226 or the Omnibus Investments Code of 1987.
Lobbying for the ITH will come with the BoI's submission of additional inputs for the modification of Senate Bill 1713, which is authored by Senator Juan Ponce Enrile, early next year.
BoI executive director Leticia Ibay said the Board is hoping to see inclusion of the fiscal incentive in the Senate measure, noting that the ITH's replacement - the net operating loss carryover (NOLCO) - is beneficial only to industries with long gestation periods.
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