Gov’t to grant tax perks to ‘green’ firms starting May

      MANILA, Philippines--"Green" firms can enjoy tax perks from the government starting May, after the Bureau of Internal Revenue (BIR) on Tuesday published the guidelines for their availment under a law signed three years ago. BIR Revenue Regulations (RR) No. 5-2019 issued by Finance Secretary Carlos G. Dominguez III and Internal Revenue Commissioner Caesar R. Dulay implements the tax provisions of Republic Act (RA) No. 10771 or the Philippine Green Jobs Act of 2016. According to RR 5-2019, a qualified business enterprise under RA 10771 "shall be entitled to a special deduction from the taxable income equivalent to 50 percent of the total expense for ...

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