Fiscal Incentives Review Board

Extension of the Bond-free Period

Mar 15, 2023

Series
This post is part 18 of the "Tax Tweets Revival" series
Regulations
  • FIRB Advisory 005-2023 Mar 15, 2023

The bond-free period per FIRB Resolution No.033-2022, which temporarily allowed the subject RBEs in the IT-BPM sector to move equipment and other assets outside the economic or freeport zone without posting any bond, shall be extended from March 31, 2023 to June 30, 2023 to allow RBEs in the IT-IBM sector to process the required TEI covering existing goods imported as of January 31, 2023.

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