Under Book I of the Omnibus Investments Code, an investor may enjoy certain benefits and incentives, provided he invests in preferred areas of investments found in the current Investment Priorities Plan (IPP).
The IPP, issued annually by the Board of Investments (BOI), is a list of promoted areas of investments eligible for government incentives in consultation with related government agencies and private sector.
An enterprise may still be entitled to incentives even if the activity is not listed in the IPP so long as:
1. at least 50% of production is for exports, if Filipino-owned enterprise,; and
2. at least 70% of production is for exports, if majority foreign-owned enterprise (more than 40% foreign equity),
The BOI in certain instances as indicated in the IPP may completely or partially limit the incentives available to export products.
Under Book I of the Omnibus Investments Code, BOI-registered enterprises are given a number of incentives in the form of tax exemptions and concessions. These are
1. Fiscal Incentives
2. Non-Fiscal Incentives
3. Incentives for Regional Headquarters and Regional Operating Headquarters in the Philippines