Firms queue up for BOI perks
A real estate firm, an exporter, and an aquaculture company have sought tax incentives and other perks from the Board of Investments (BOI) for their respective new projects.
According to the BOI, Johndorf Ventures Corp. has applied for registration as a new developer of low-cost mass housing project called Astana Subdivision, on a non-pioneer status. The property project, which will be located in Mactan, Cebu, will have a total capacity of 413 housing units.
Data from its website showed that Johndorf Ventures was established in the 1980s by the Sy-Lim Family of Iligan City. The company has already built over 30 communities with more than 10,000 homes spread across Butuan, Cagayan de Oro and Cebu City.
Sea Cage Industries Inc. is also applying for registration with the BOI as new commercial producer of milkfish on a non-pioneer status.
The company’s annual production from its project site in Basey, Samar is expected to reach 64.8 million pieces of fry; 2.6 million pieces of fingerlings; and 920,250 kilograms of market size fish.
Meanwhile, Global Lighting Phils. Inc. is also applying for registration with the BOI as a new export producer on a non-pioneer status. The company’s facility in Carmona, Cavite, is expected to produce on an annual basis 800,000 pieces of set-top-box; 1.6 million pieces of patch cord; and 221,500 pieces of KU Brand.
Should the projects of these three companies be approved by the BOI, they will be entitled to a menu of fiscal and non-fiscal incentives that will allow their businesses to be more competitive.
Government data showed that BOI-registered enterprises shall be exempt from the payment of income taxes for four years from the scheduled start of commercial operations. Amy R. Remo
