THE Department of Trade and Industry-Board of Investment (DTI-BOI) is holding orientation seminars on the salient points and provisions of the Implementing Rules and Regulations (IRR) of Tax Incentives Management and Transparency Act (TIMTA) in key cities nationwide.
The orientation seminars cover discussions on the role of BOI-registered business entities, investment promotion agencies and government agencies such as the Bureau of Internal Revenue, Bureau of Customs, Department of Finance, Department of Budget and Management and the National Economic and Development Authority.
Apart from the provisions of the TIMTA IRR, policies on the availment of incentives, such as income tax holiday for various sectors and duty-free importation of capital equipment will also be discussed.
Some of the seminars were already conducted in Puerto Princesa City, Palawan on July 22 and Cagayan de Oro on August 19.
The other seminar schedules are on Aug. 25 and Sept. 1 at the Best Western Plus Antel Hotel in Makati City, August 26 at Harolds Hotel in Cebu City, and Sept. 9 in Davao.
Starting September 2016, companies will be required to report the amount of tax incentives they received in 2015, following the effectivity of TIMTA IRR last Aug. 5. For more information on the services of DTI, log on to https:// www.dti.gov.ph.