CHAPTER VII
INCENTIVES TO REGISTERED ENTERPRISES
Section 16. Period of Availment. Unless otherwise provided herein, a registered enterprise shall enjoy the fiscal incentives provided herein for a fixed period corresponding to the actual amount of investment put up by the investor/enterprise under the following brackets
INVESTMENT INCENTIVE PERIOD
- 1 Million Pesos but less than P 5 Million – – – – – – – - -Two Years
- 5 Million Pesos but less than P20 Million – – – – – – – – -Three Years
- 20 Million Pesos but less than P40 Million – – – – – – – – Four Years
- 40 Million Pesos and above – – – – – – – – – – – – – – – - Five Years
Section 17. Fiscal Incentives. In addition to the incentives provided by law a registered enterprise under this ordinance shall enjoy the following incentives starting from the date of the start of actual commercial operation.
(1) Exemption from local licenses, fees, and dues. A registered enterprise under this ordinance shall be fully exempt from the mayor’s permit fees within the incentive period wherein it qualified, building permit fees, and other kind of local license, fees and dues, except for regulatory fees, such as:
- a) Medical Certificate Fee
- b) Sanitary Permit Fee
- c) Garbage Collection Fee
- d) Fire Inspection Fee
(2) Reduction of Business Tax. Registered enterprises subject to the period of availment under Section 16, shall be entitled to reduced business taxes based on gross sales or receipts earned or realized during the proceeding calendar year .
YEAR REDUCTION
- First Year 100 % of Gross Sales/Receipts
- Second Year 75 % of Gross Sales/Receipts
- Third Year 50 % of Gross Sales/Receipts
- Fourth Year 0 % of Gross Sales/Receipts
- Fourth Year 25% of Gross Sales/Receipts
- Fifth Year 10 % of Gross Sales/Receipts
- Sixth Year 0% of Gross Sales/Receipts
Section 18. Appropriation. To defray the expenses necessary to or incidental to the implementation of the provisions of this ordinance, an initial funding shall be appropriated from the 20% Development Fund of the Municipal Government. Thereafter, the Municipal Government shall provide an appropriation annually, based on a budget presented by the Board, for the necessary funding requirements for the continued implementation of the provisions of this ordinance, subject to the usual government accounting and auditing rules and regulations.