A LONGER fiscal incentive package is being targeted by the Davao City Investment and Promotions Center (DCIPC) as they prepare for the investment incentive code review, a DCIPC official said.
“One of the major projects of DCIPC is to revise or review the existing incentive code of the city. We have actually talked with one consulting firm that is willing to help us in reviewing our incentive code. Isla Lipana consulting firm is willing to help us. Right now, we are on the finalization stage of the MOA,” said Lemuel Ortonio, DCIPC Officer-in-charge, during weekly press forum at Habi at Kape, Abreeza Ayala Malls Wednesday, April 5.
He said one of the objectives of the investment incentive code review is to update the incentive package whether the three-year business tax and the two-year real property tax are still attractive to potential investors.
“In 2012, we made a review of our incentive code, which includes providing longer fiscal incentives especially in the four preferred districts in the city -- Marilog, Baguio, Calinan, and Paquibato. Whether or not the longer incentive periods for these districts is effective will be part of the review,” Ortonio said.
He said they target a longer incentive package than the existing code and much longer than those offered in the rural areas.
Ortonio also said late last year, the Bureau of Investment had a public consultation in connection with their plan to update their investment and incentive packages.
He also said part of the review is whether or not the 10 priority investment areas are still relevant with the current development of the city.
These priority investments include agribusiness and food processing, tourism and recreational, light manufacturing, property development, health, wellness, and sports facilities, environmental protection and green projects, information and communications technology, renewable energy sources, transportation and infrastructure, and the public-private partnership projects.
Fiscal and non-fiscal incentives are given to those business industries belonging to the 10 priority investment areas while those excluded in the list are provided with only non-fiscal incentives.
“If they need information and statistics that is related to their industry, we can provide them with that. Also, in terms of setting up their business, we can help them in the facilitation of their permits and licenses,” he said.