Companies make a beeline for tax perks, incentives from BOI
LOCAL real estate developers, an energy company, and a manufacturing firm remained highly bullish of their prospects in the domestic market, as they continued to make a beeline for tax perks and other incentives for their respective new projects before the Board of Investments (BOI).
In separate notices, BOI said DMCI Power was applying for registration as a new operator of a 3.69-megawatt diesel power plant in Sultan Kudarat.
Property developers, meanwhile, are becoming more engaged in economic and low-cost housing projects, based on the growing number of applications that the agency has so far received this year.
A BOI notice showed Filinvest Land Inc. applying for registration as a new developer of economic and low-cost housing project called Meridian Place. The said development, located in General Trias, Cavite, will have a capacity of 845 units.
The Gotianun-led company has also sought for registration for a similar project called Bali Oasis Phase 2 in Pasig City, which has 102 units.
Another developer, DDC Land Inc., also sought to tap the various incentives from the government. These developments were identified as Santa Rosa garden Villas III Phase 5 and Phase 3 in Santa Rosa, Laguna.
DDC Land is also seeking registration as a new developer of Dasma Garden Villas in Cavite.
77 Living Spaces Inc. has similarly sought to register its housing project called Florence by Aldea Premier in Mandaue City in Cebu.
JISOO R&D Corp. meanwhile, is applying for registration with the BOI as exporter of knitted fabrics on a non-pioneer status. Its facility, which is located within Golden Gate Business Park in General Trias, Cavite, has a capacity of 1.29 million kilograms a year.
If approved, these projects will be eligible to avail of incentives including four years of income tax holidays for new projects with nonpioneer status or three years for expansion and modernization projects. Renewable energy projects can avail of income tax holiday for seven years. Amy R. Remo
