Guimaras investors to get tax incentives

[av_textblock size=” font_color=” color=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”]

[/av_textblock]

[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”]

[av_heading heading=’Guimaras investors to get tax incentives’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading]

[av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]
ILOILO City – Tax incentives await those willing to open or expand their businesses in Guimaras following the enactment of the province’s Investment Code.

“With the enactment of our 2017 Investment Code, we really encourage investors to come and visit Guimaras,” said Vice Gov. John Edward Gando.

The Guimaras Investment Code offers fiscal and non-fiscal incentives both to existing enterprises, or those presently located in the province, and new businesses.

The code will also offer expansion projects – inclusive of modernization and upgrading and increased capitalization – to the businesses.

The code covers investments on tourism, manufacturing, agribusiness, services, real estate development, infrastructure and development, and information and communications technology.

Investors of small-scale businesses (worth P3 to P5 million, exclusive of land cost ), medium-scale businesses (worth P15 million to less than P100 million, exclusive of land cost), and large-scale businesses (worth above P100 million, exclusive of land cost) can avail themselves of incentives under the code.

The amount of capitalization must be based on the total project cost stated in the investors’ project study to be passed to the Guimaras Investment Board.

Those who qualify to avail themselves of incentives will have 100-percent tax exemption during their first year of operation, 75 percent in their second year and 50 percent in their third year.

Moreover, Gando said the Guimaras Electric Company (Guimelco) got over P100-million loan for the upgrading of its 69 KVA power lines.

The vice governor said this will help attract more investors in the province.

“Before the Manggahan Festival we can see the upgrading of our electric lines and we are optimistic that we can address the power concern of Guimaras,” Gando said.

The current power demand of the province is close to eight megawatts, he added. (PNA/PN)
[/av_textblock]

[/av_one_full]