By Louella D.
Desiderio (The Philippine Star) | Updated April 3, 2013 - 12:00am
MANILA,
Philippines - Two units of listed Vista Land and Lifescapes Inc. are seeking
tax perks from the government for their mass housing projects.
In a
published notice, the Board of Investments (BOI) said “Household Development
Corp... is applying for registration with the BOI as a new developer of low
cost mass housing project (Camella Montego) with a capacity of 299 low-cost
mass housing units on a non-pioneer status.”
The project
is located in Barangay San Isidro in Antipolo City.
In a separate
notice, the BOI said Communities Batangas, Inc. filed an application for
registration with the agency as an expanding developer of low-cost mass housing
projects Camella Lipa Phase 2 and Camella Lipa Phase 3, on a non-pioneer
status.
The two
projects which have a combined capacity of 344 low-cost mass housing units are
located in Lipa City, Batangas.
The companies
can enjoy fiscal incentives such as exemption from payment of income taxes once
the BOI approves the applications.
The
government offers incentives for preferred activities that are part of its
investment promotions blueprint, the 2012 Investment Priorities Plan (IPP).
Mass housing
has been identified as one of the activities being promoted to attract
investments.
Apart from
mass housing, the 2012 IPP lists the following as preferred activities:
agriculture, agribusiness and fishery; creative industries or knowledge-based
services; shipbuilding; energy; infrastructure; research and development; green
projects; motor vehicles; strategic projects; disaster prevention, mitigation
and recovery projects; iron and steel; and hospital or medical services.
Household
Development is under Camella Homes Inc., one of Vista Land’s business units.
Communities
Batangas meanwhile falls under the business unit Communities Philippines Inc.
Vista Land’s
other business units are Brittany Corp., Crown Asia Properties, and Vista
Residences Inc.
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