THE Philippine Economic Zone Authority (PEZA) and the Department of Finance (DoF) have been at odds for months over the latter’s proposal, contained in the second package of the comprehensive tax reform program (CTRP) currently stalled in Congress, to rationalize fiscal incentives. Because somebody at PEZA does not know how to do basic math, the conversation has now shifted from the specifics of adjusting tax perks to business locators to a more general assessment of the real value of economic zones.