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UNDER
EXECUTIVE ORDER 226 |
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Incentives
that can be availed by investors engaged in projects that are
listed in the Investment Priorities Plan [IPP] and registered
with the Board of Investments [BOI] include the following: |
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Income tax holiday of 4 to 6 years
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Tax and duty-free importation of capital equipment and
spare parts
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Tax credit of domestic capital equipment
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Tax credit for taxes and duties on raw materials used
in the manufacture, processing or production of export
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Simplified customs procedure
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Unrestricted use of consigned equipment
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Employment of foreign nationals
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Waiving
nationality requirements for regional ASEAN on multilateral
financial institutions
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UNDER THE
EXPORT DEVELOPING ACT |
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Qualified
enterprises earning at least fifty percent [50%] of its total
revenues from export are entitled to the following privileges: |
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Exemption from advance payment of customs duties
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Zero payment duty on imported machinery and equipment,
and spare parts
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Tax credit on imported raw materials for a period of
five [5] years
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Tax credit for increase in current year
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Tax credit
of 25 percent [25%] of duties on local raw materials, capital
equipment and/or spare parts for a period of three [3] years
extendible for another 3 years
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INCENTIVE
GRANTED TO MNCs |
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Additional
privileges are granted to multinational Companies [MNCs] that
establish their regional head quarters in the Philippines as
well as to their expatriate personnel. The privileges are in the
nature of duty exemptions, importation of materials and personal
effects, and visa prerogatives. |
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SPECIAL
INVESTORS RESIDENT VISA [SIRV] |
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A foreigner
who invests at least US$ 75,000 in the Philippines in his own
name may apply for an SIRV. He may reside in the country
indefinitely so long as the minimum amount of investment
subsists. |
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UNDER THE
LOCAL GOVERNMENT UNITS [LGUs] |
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The Local
Government Units of the Province of Zamboanga Sibugay, and some
municipalities, grant both fiscal and non-fiscal incentives at
varying levels, rates and periods. These incentives include the
following: |
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Exemption from payment of business taxes
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Deductions on computed Business Tax Liability
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Exemption from payment of real property taxes
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Tax
discount on basic Real Property Tax [RPT] and Special
Education Fund [SEF] if whole amount is paid before due date
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