Both foreign and local companies in the Philippines can also enjoy government incentives. We can help facilitate your registration with the Philippine Economic Zone Authority (PEZA) or the Board of Investments (BOI). Our team will determine your qualifications, help you identify a PEZA zone or building that will best suit your business’ requirements, and the preparation and processing of all the required registration documents.
PEZA offers both fiscal and non-fiscal incentives to companies which are located in specially designated Special Economic Zones or PEZA buildings.
- Income tax holiday for a certain number of years, which translates to 100% exemption from corporate income tax;
- Tax and duty-free importation of raw materials, capital equipment, machineries and spare parts; exemption from wharfage dues and export tax, impost or fees;
- VAT zero-rating of local purchases subject to compliance with BIR and PEZA requirements;
- Exemption from payment of any and all local government imposts, fees, licenses or taxes;
- Exemption from expanded withholding tax
- Simplified import-export procedures
- Extended visa facilitation assistance to foreign nationals and spouses and dependents
- Special visa multiple entry privileges;
Getting an accreditation from BOI will help your business save on taxes as this agency is responsible for the country’s investment promotion.
- Income tax holiday (3-6 years depending on the type of business)
- Taxes and duties exemption on imported spare parts, wharfage dues and export tax
- Duty rates are reduced on capital equipment and spare parts
- Tax credits on breeding stocks, genetic material and raw materials
- Employment of foreign nationals
- Customs procedures are simplified