The Davao City government will give more incentives to new investors who will to put up businesses in remote areas in the third district of this city.
Davao City Investment Promotion Center (DCIPC) chief Jason Magnaye said investors who will set up business in Calinan, Baguio, Paquibato and Marilog areas can avail of the city’s tax exemptions for five years, including business sales tax and real property tax.
He said the city also amended the Davao City Investment and Incentive Code (DCIIC) to attract investors.
"We wanted to encourage business in these areas," Magnaye said.
He said possible investment for the four preferred areas are processing facilities and infrastructure for agri-business.
"This is of the priority areas for investments underscored in the Implementing Rules and Regulations (IRR) of the investment and incentive code of the city," he explained.
"Investors outside these areas can enjoy three years of business tax and two years of real property tax exemptions," he added. - by PNA
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