BOI launches Iloilo compliance drive to boost investor trust

The Board of Investments (BOI), through its Legal and Compliance Service (LCS), launched its first Compliance Information Drive session in Iloilo on August 19, 2025, aiming to raise awareness of regulatory obligations among registered business enterprises (RBEs).

Nearly 80 participants from across Luzon, Visayas, and Mindanao attended the event, which was designed to strengthen investor confidence through clarity, consistency, and alignment with national development goals.

Atty. Elyjean Portoza, Director of BOI-LCS, emphasized the critical role of collaboration between RBEs and the BOI in promoting accountability and economic progress, stating, “Strong ties between RBEs and the BOI are vital to the country’s economic growth.”

The session focused on the incentives and compliance responsibilities under Republic Act No. 11534, also known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, as amended by RA No. 12066.

Marielle Santos of LCS Compliance Division-B outlined the specific terms and conditions that RBEs must meet to retain fiscal and non-fiscal incentives, including compliance with investment capital commitments, labor generation, and commercial operation timelines.

Santos also reminded participants of requirements such as annual reporting and tree planting, which fall under both general and project-specific conditions.

To inform RBEs of recent policy updates, Irene Pacao-Biñas of Compliance Division-A presented changes related to the Socialized Housing Requirements (SHR), adoption of the Department of Human Settlements and Urban Development (DHSUD) Escrow compliance mechanism, and amendments to the 2022 Strategic Investment Priority Plan (SIPP) concerning mass housing.

She also clarified the BOI’s position on local business tax exemptions and the revised guidelines on tree planting initiatives.

These regulatory enhancements aim to foster a predictable and transparent investment environment aligned with the government’s efforts to streamline processes and ensure fair access to tax incentives.

On reporting requirements, Lorna Garcia of Compliance Division-B provided a detailed walkthrough of the Revised Form S-1 (Annual Report on Actual Operations), which RBEs must begin submitting by April 30, 2026.

Garcia noted that the updated form supports gender and development initiatives by collecting sex-disaggregated employment data from enterprises.

Atty. Kaye Anne Palad of the LCS Legal Division discussed the key provisions of RA No. 12066, highlighting its extended incentive periods, enhanced allowable deductions, and clarified value-added tax (VAT) treatment for qualified enterprises.

She also shared recent issuances that guide the implementation of the law and its benefits for new and existing RBEs.

Participants represented a wide range of sectors including renewable energy, IT-enabled services, real estate, cold storage, agriculture, and healthcare.

Future sessions of the Compliance Information Drive are scheduled for September 11, 2025, in Davao City, with two more events planned in the National Capital Region (NCR) in November.