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2023-10-01 02:34

Special tax rate of 5% of gross income in lieu of all local and national taxes;
Tax credits for foreign corporations;
Tax and duty free importation of articles, raw materials, capital goods, equipment and consumer items;
Permanent resident status for foreign investors and immediate family (must maintain not less than US$ 150,000 capital);
Working visa valid for two (2) years and renewable thereafter;
Other applicable incentives under the Omnibus Investment Code of 1987:

Additional deduction for labor expense;
Exemption from local taxes and licenses;
Exemption from contractor’s tax;
Exemption from wharfage dues and any export tax, duty, impost and fee on non-traditional export products.