Oridance
No. 2001/004: An Ordinance providing
for a local investment incentives to industries
which are now or may hereafter be established
in the city of Mandaue and for other purposes.
MAIN
FEATURES
- Initial
investment of not less than P5M in case
of Filipino investors
- Initial
investment of not less than $200T for
foreign investors
- Type
of business must be among the list of
identified priority/preferred areas
of investments
- Employment
of at least 75% Filipino working force
and residents of Mandaue City
- The
Mandaue City Invesment Board screens,
evaluates, accepts, approves, or rejects
applications for investments incentives
- All
applications submitted to the Board
shall be acted upon within 30 days
- The
Board can conduct trade missions
- The
Board is empowered to identify, acquire,
develop industrial estates and/or economic
zones
SECTION
9: The investment program shall apply
to new businesses which establish and
start their operations after the approval
of this ordinance and those existing enterprises
planning to expand their investments,
shall enjoy the privileges granted by
this program for a period as may be determined
on the basis of the amount of investments
put up by the investors under the following
brackets:
| CAPITAL
INVESTMENT |
RATE
OF EXEMPTION |
DISCOUNT
PERIOD |
| |
| |
Business
Tax |
Real
Property Tax |
|
| For
Filipino Investors |
|
| P5M
to P25M |
25% |
25% |
3
years |
| Over
P25M to P100M |
35% |
35% |
5
years |
| Over
P100M |
50% |
50% |
7
years |
| For
Foreign Investors |
|
| $200T
to $1M |
25% |
25% |
3
years |
| Over
$1M to $4M |
35% |
35% |
5
years |
| Over
$4M |
50% |
50% |
7
years |
COVERAGE
