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After recently submitting to Malaca
After recently submitting to Malacañang this year's Investment Priorities Plan (IPP), the Department of Trade and Industry (DTI) plans to fast-track the drafting of 2014's IPP as it targets implementation by January next year, the department's top official said Tuesday.
Trade Secretary Gregory L. Domingo said the 2013 IPP, only recently submitted to the Office of the President, should have been out by March 30 as mandated by law.
"We will try to issue 2014 IPP earlier..hopefully yun effective January 1. Para 'pag nilagay yung date, mas effective siya for the whole year. We'd like to improve the process," Domingo told reporters on the sidelines of the formal opening of FUJIFILM Optics Philippines Inc.'s factory in Laguna.
The IPP defines which sectors will be favored with incentives such as tax holidays and other tax breaks.
Domingo noted that "some minor changes" were made in last year's IPP for the 2013 plan.
"There're some minor changes... more on the treatment of certain things," Domingo said, but declined to elaborate on the details.
Earlier, Domingo said most of the incentives in the 2012 IPP would likely be retained for this year's IPP, and that major changes would have to wait until 2014.
One of the changes reflected in the draft IPP is the definition of "pioneer project." In last year's IPP, some projects with large investments were allowed to be classified as pioneer projects and therefore eligible for four- to eight-year tax holidays. Under the new IPP, projects can only be granted pioneer status if the service or project is completely new to the Philippines.
Another proposed change is the requirement of a comment from the Department of Agriculture before an agricultural project is given incentives under the IPP.
Under the draft IPP, income tax holidays for tourist establishments in Cebu City, Mactan City, Metro Manila and Boracay will be removed, based on a resolution the BoI promulgated on March 5.
If the DTI achieves its goal for next year's IPP, the 2013 IPP will be effective for only less than half a year or "until 2014 IPP becomes effective," the Trade Secretary said.
As of now, Domingo said the DTI will make consultations and work closely with the National Economic and Development Authority (NEDA) before drafting the 2014 IPP.
Trade Secretary Gregory L. Domingo said the 2013 IPP, only recently submitted to the Office of the President, should have been out by March 30 as mandated by law.
"We will try to issue 2014 IPP earlier..hopefully yun effective January 1. Para 'pag nilagay yung date, mas effective siya for the whole year. We'd like to improve the process," Domingo told reporters on the sidelines of the formal opening of FUJIFILM Optics Philippines Inc.'s factory in Laguna.
The IPP defines which sectors will be favored with incentives such as tax holidays and other tax breaks.
Domingo noted that "some minor changes" were made in last year's IPP for the 2013 plan.
"There're some minor changes... more on the treatment of certain things," Domingo said, but declined to elaborate on the details.
Earlier, Domingo said most of the incentives in the 2012 IPP would likely be retained for this year's IPP, and that major changes would have to wait until 2014.
One of the changes reflected in the draft IPP is the definition of "pioneer project." In last year's IPP, some projects with large investments were allowed to be classified as pioneer projects and therefore eligible for four- to eight-year tax holidays. Under the new IPP, projects can only be granted pioneer status if the service or project is completely new to the Philippines.
Another proposed change is the requirement of a comment from the Department of Agriculture before an agricultural project is given incentives under the IPP.
Under the draft IPP, income tax holidays for tourist establishments in Cebu City, Mactan City, Metro Manila and Boracay will be removed, based on a resolution the BoI promulgated on March 5.
If the DTI achieves its goal for next year's IPP, the 2013 IPP will be effective for only less than half a year or "until 2014 IPP becomes effective," the Trade Secretary said.
As of now, Domingo said the DTI will make consultations and work closely with the National Economic and Development Authority (NEDA) before drafting the 2014 IPP.
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After recently submitting to Malacañang this year's Investment Priorities Plan (IPP), the Department of Trade and Industry (DTI) plans to fast-track the drafting of 2014's IPP as it targets implementation by January next year, the department's top official said Tuesday.
Trade Secretary Gregory L. Domingo said the 2013 IPP, only recently submitted to the Office of the President, should have been out by March 30 as mandated by law.
"We will try to issue 2014 IPP earlier..hopefully yun effective January 1. Para 'pag nilagay yung date, mas effective siya for the whole year. We'd like to improve the process," Domingo told reporters on the sidelines of the formal opening of FUJIFILM Optics Philippines Inc.'s factory in Laguna.
The IPP defines which sectors will be favored with incentives such as tax holidays and other tax breaks.
Domingo noted that "some minor changes" were made in last year's IPP for the 2013 plan.
"There're some minor changes... more on the treatment of certain things," Domingo said, but declined to elaborate on the details.
Earlier, Domingo said most of the incentives in the 2012 IPP would likely be retained for this year's IPP, and that major changes would have to wait until 2014.
One of the changes reflected in the draft IPP is the definition of "pioneer project." In last year's IPP, some projects with large investments were allowed to be classified as pioneer projects and therefore eligible for four- to eight-year tax holidays. Under the new IPP, projects can only be granted pioneer status if the service or project is completely new to the Philippines.
Another proposed change is the requirement of a comment from the Department of Agriculture before an agricultural project is given incentives under the IPP.
Under the draft IPP, income tax holidays for tourist establishments in Cebu City, Mactan City, Metro Manila and Boracay will be removed, based on a resolution the BoI promulgated on March 5.
If the DTI achieves its goal for next year's IPP, the 2013 IPP will be effective for only less than half a year or "until 2014 IPP becomes effective," the Trade Secretary said.
As of now, Domingo said the DTI will make consultations and work closely with the National Economic and Development Authority (NEDA) before drafting the 2014 IPP.
Trade Secretary Gregory L. Domingo said the 2013 IPP, only recently submitted to the Office of the President, should have been out by March 30 as mandated by law.
"We will try to issue 2014 IPP earlier..hopefully yun effective January 1. Para 'pag nilagay yung date, mas effective siya for the whole year. We'd like to improve the process," Domingo told reporters on the sidelines of the formal opening of FUJIFILM Optics Philippines Inc.'s factory in Laguna.
The IPP defines which sectors will be favored with incentives such as tax holidays and other tax breaks.
Domingo noted that "some minor changes" were made in last year's IPP for the 2013 plan.
"There're some minor changes... more on the treatment of certain things," Domingo said, but declined to elaborate on the details.
Earlier, Domingo said most of the incentives in the 2012 IPP would likely be retained for this year's IPP, and that major changes would have to wait until 2014.
One of the changes reflected in the draft IPP is the definition of "pioneer project." In last year's IPP, some projects with large investments were allowed to be classified as pioneer projects and therefore eligible for four- to eight-year tax holidays. Under the new IPP, projects can only be granted pioneer status if the service or project is completely new to the Philippines.
Another proposed change is the requirement of a comment from the Department of Agriculture before an agricultural project is given incentives under the IPP.
Under the draft IPP, income tax holidays for tourist establishments in Cebu City, Mactan City, Metro Manila and Boracay will be removed, based on a resolution the BoI promulgated on March 5.
If the DTI achieves its goal for next year's IPP, the 2013 IPP will be effective for only less than half a year or "until 2014 IPP becomes effective," the Trade Secretary said.
As of now, Domingo said the DTI will make consultations and work closely with the National Economic and Development Authority (NEDA) before drafting the 2014 IPP.
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Sau gần đây trình Malacañang năm nay ưu tiên đầu tư Kế hoạch (IPP), Bộ Thương mại và Công nghiệp (DTI) có kế hoạch tiến nhanh theo dõi việc soạn thảo IPP 2014 như nó nhắm thực hiện vào tháng giêng năm tới, quan chức cao cấp của bộ cho biết. Triển Bộ trưởng Gregory L. Domingo cho biết năm 2013 IPP, chỉ vừa được đệ trình lên Văn phòng Chủ tịch nước, nên đã ra vào tháng 30 như quy định bởi luật. "Chúng tôi sẽ cố gắng phát hành năm 2014 IPP earlier..hopefully yun tháng Giêng 1. Para 'pag nilagay yung ngày, Mas Siya hiệu quả cho cả năm. Chúng tôi muốn cải thiện quá trình ", Domingo nói với các phóng viên bên lề lễ khai mạc chính thức của nhà máy FUJIFILM Optics Philippines Inc ở Laguna. Các định nghĩa mà IPP ngành sẽ được ưa chuộng với nhiều ưu đãi như miễn thuế và giảm thuế khác. Domingo lưu ý rằng "một số thay đổi nhỏ" đã được thực hiện trong IPP năm ngoái cho kế hoạch năm 2013. "Có một số thay đổi nhỏ ... chi tiết về xử lý nhất định điều, "Domingo cho biết, nhưng từ chối giải thích về các chi tiết. Trước đó, Domingo cho biết hầu hết các ưu đãi trong năm 2012 IPP có khả năng sẽ được giữ lại cho IPP của năm nay, và rằng những thay đổi lớn sẽ phải đợi cho đến năm 2014. Một trong những thay đổi phản ánh trong dự thảo IPP là định nghĩa của "dự án tiên phong." Trong IPP năm ngoái, một số dự án có vốn đầu tư lớn đã được cho phép để được phân loại là dự án tiên phong và do đó đủ điều kiện cho bốn ngày nghỉ lễ thuế tám năm. Theo IPP mới, các dự án chỉ có thể được cấp tư cách tiên phong nếu dịch vụ hoặc dự án là hoàn toàn mới đối với Philippines. Một thay đổi được đề xuất là yêu cầu của một bình luận từ Sở Nông nghiệp trước khi có dự án nông nghiệp ưu đãi được đưa ra dưới IPP. Dưới dự thảo IPP, miễn thuế thu nhập cho các cơ sở du lịch tại thành phố Cebu, Mactan City, Metro Manila và Boracay sẽ được gỡ bỏ, dựa trên độ phân giải BoI ban hành ngày 05 tháng 3. Nếu DTI đạt được mục tiêu của mình cho IPP năm sau, năm 2013 IPP sẽ có hiệu lực trong chỉ chưa đầy nửa năm hoặc "cho đến năm 2014 IPP trở nên hiệu quả", Bộ trưởng Thương mại cho biết. Đến bây giờ, Domingo cho biết DTI sẽ tham vấn và hợp tác chặt chẽ với Cơ quan Kinh tế và Phát triển Quốc gia (NEDA) trước khi soạn thảo 2014 IPP.
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