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Qualifications for incentives |
Fiscal Incentives for Investors
For investments that fall under the preferred
areas, investors can avail of :
Exemption from payment of Mayors permit fees,
building fees, business sales tax and other fees
and charges for three years from start of
commercial operations, and;
Exemption from payment of the Basic Real
Property Tax for two years from the accrual of
the real property tax
Note: these exemptions are local incentives.
Qualified investors may also avail of the
national incentives under the Philippine Omnibus
Investment Code of 1987 by applying with the
Board of Investments.
Qualifications of a new enterprise A
new enterprise which intends to avail of the
incentives provided in the Code must meet the
following requirements:
1. The new business enterprise must have
complied with all the requirements mandated
under the existing local and national laws and
the Constitution by and through presentation of
certificates of registration issued by either
the Securities and Exchange Commission (SEC,
Department of Trade and Industry (DTI) and other
national government accrediting agencies, as the
case may be;
2. The prospective investors place of operation
or production must be located within the
territorial jurisdiction of Davao City;
3. The investment must be among the approved
preferred/ priority areas of investments;
4. The investment must provide employment among
bonafide residents of Davao City
5. The new enterprise must have a capitalization
of at least one million pesos
Preferred Investment Areas
Based on the results of the study conducted by
The Services Group Inc. of Arlington Virginia,
the Code has specifically indicated the
following investment areas as priority where
investors may qualify for investment incentives:
Tourism and Recreational Facilities such
as but not limited to
Business Hotels
Restaurants
Beach and Mountain Resorts
Theme Parks
Agri-Business and Food Processing such as
but not limited to
Fruit Processing (Vacuum, Dehydrated, Spray
Dried)
Canned Specialty Vegetables
Extruded Snack Food
Cutflower Production
Light Manufacturing and Assembly such as
but not limited to
Garments
Footwear
Toys
Bulky Kitchen and House Wares
Property Development such as but not
limited to
Industrial Estate
Convention Center
Residential Area Development
Commercial/Office Building
Transshipment Infrastructure such as
Port Infrastructure
Common Bonded Warehouse
(Additional priority investment areas were added
and adopted through amendments to the Code in
1997)
Establishment of Foreign Bank Branches
Medical, Educational, Training, and Sports
Facilities
Telecommunications
Environmental Enhancement and Protection Project
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Capital range in Philippine Peso |
Required no. of Employment |
Filing fee in Philippine Peso |
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1 million to 5 million |
10 or more |
1,000 |
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Over 5m up to 10 m |
10 or more |
2,500 |
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Over 10m up to 40m |
20 or more |
10,000 |
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Over 40m up to 100m |
100 or more* |
25,000 |
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Over 100m up to 1billion |
100 or more* |
50,000 |
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Over 1 billion |
100 or more* |
100,000 |
*with some exceptions |
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