Fiscal Incentives

Under Article VII, Sec. 18 on the proposed ordinance enacting the Investment and Incentive Code of Isabela, subject to the approval of the Board, a registered enterprise may be granted the following fiscal incentives:

 

a.) Free use of real properties owned by the Provincial         Government   of Isabela for a period of ten (10) years subject to the condition that any and all improvements introduced and attached therein shall automatically accrue to the provincial government;

 

b.)       Exemption from payment of basic real property taxes, as far as    the share of the provincial government is concerned for a period of five (5) years for:

 

c.)       Equipment or devices or other equipment for pollution    control,   environmental protection equipments and structures, fire protection equipments and structures, flood control and mitigation structures as well as water treatment and purification equipments and structures for a period of give (5) years from date of commencement of business operation;

 

d.)       Lands, regardless of classification, if used exclusively for   parking, roads and other pathways provided that the same be open for use by the general public;

 

e.)       Exemption from transfer taxes of real properties    transferred in favor of the applicant;

 

f.)         Exemption from franchise tax for a period of five (5) years;

 

g.)       Free provincial health care enrolment, first month  premium, for all employees of new enterprises and additional employees of expanding/ modernizing/diversifying enterprises;

 

h.)       One-time first year enrolment to the PNB Gen Insurance for all employees of new enterprises and additional employees of expanding/ modernizing/diversifying enterprises.

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