author_orbitax
Orbitax

Share This Article

Philippines FIRB Approves Tax Incentives for Railway Operations of Subway Project

10 November 2021

|

Approved Changes

|

Philippines

The Philippines Department of Finance issued a release on 8 November 2021 announcing that the Fiscal Incentives Review Board (FIRB) has approved tax incentives for railway operations of a subway project in Makati City. The incentives include an income tax holiday for 4 years, followed by 5 years of enhanced deductions, as well as duty exemption on imports for the construction, operation, management, and maintenance of the rail project.