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Philippines FIRB Approves Tax Incentives for Railway Operations of Subway Project

|Approved Changes|Philippines
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.

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