Aboitiz unit seeks fiscal, nonfiscal perks
The feeds and swine unit of Aboitiz Equity Ventures, a manufacturing company and a real estate developer are seeking fiscal perks and other incentives from the Philippine Economic Zone Authority (Peza) and the Board of Investments (BOI) for their respective multimillion-peso projects.
Based on a BOI notice, Aboitiz unit Pilmico Animal Nutrition Corp. was applying for registration with the agency as new producer of table eggs and by-products (culled chicken and manure) on a non-pioneer status.
Pilmico’s facility in Tarlac City will have annual capacities of 44.95 million pieces of table eggs; 172,800 birds (culled chicken); and 25,476 bags of chicken manure at 40 kilograms a bag, the BOI said.
Pilmico Animal Nutrition is a wholly owned unit of Pilmico Foods Corp., the food subsidiary of Aboitiz Equity Ventures. This unit is engaged into the feeds and swine business, producing several brands including Ultimax, Elite, Classic, Civic and Lakas Tandem for hog feeds; Poultry Express, Avemax, Gallimax and Salto for poultry; and Pork and Poultry Solutions for farm accounts, data from Pilmico website showed.
Property developer Rockfort Realty Corp., meanwhile, has also applied for registration with the BOI as a new developer of low-cost mass housing project on a non-pioneer status.
Located in Sta. Rosa, Laguna, the Araya Park Residences will offer a total of 726 housing units.
Article continues after this advertisementIf these two projects are approved by the BOI, then Pilmico and Rockfort Realty will be entitled to a menu of fiscal and nonfiscal incentives that will allow its facility to be more competitive.
Government data showed that BOI-registered enterprises are exempt from the payment of income taxes for four years from the scheduled start of commercial operations. Other incentives include exemption from taxes and duties on imported spare parts; exemption from wharfage dues and export tax, duty, impost and fees for enterprises registered under the Investment Priorities Plan (IPP); tax credits; and additional deductions under labor expenses, among other fiscal incentives.
