A real estate company and a garments exporter are seeking registration with and incentives from the Board of Investments for their respective projects.
Household Development Corp., a subsidiary of Camella Homes, is applying for registration with the BOI as a new developer of low-cost mass housing project in Bulacan on a non-pioneer status.
Based on documents filed, Household Development’s “Camella San Jose Del Monte,” to be located in Barangay (village) Sto. Cristo, San Jose Del Monte, Bulacan, will have 217 housing units.
In the meantime, Styletex Corp. is also applying for registration with the BOI as a new export producer of garments on a nonpioneer status. The company’s plant located in Victoria, Tarlac has a capacity of to produce “60,000 dozens per year.” It, however, did not specify the types of garments it would produce.
If registered, the two companies will be entitled to a menu of fiscal and nonfiscal incentives.
Government data showed that BOI-registered enterprises—particularly new projects with a nonpioneer status—are exempted from paying income taxes for four years. New projects given pioneer status will enjoy longer income tax holiday of six years from start of commercial operations.
Other incentives extended to BOI-registered firms are exemption from taxes and duties on imported spare parts; exemption from wharfage dues and export tax, duty, impost and fees and tax credits.