By Louella Desiderio (The Philippine
Star) | Updated May 14, 2014 - 12:00am
MANILA, Philippines - Two property
developers are seeking tax perks from the Board of Investments (BOI) for their
housing projects.
In a published notice, the BOI said
“Communities Bohol, Inc.,… is applying for registration with the BOI as an
expanding developer of low-cost, mass housing project (Camella Bohol Phase 2)
with a total capacity of 173 housing units on a non-pioneer status.”
The project is located in Tagbilaran
City.
In a separate published notice, the
BOI said “Amaia Land Corp.,… is applying for registration with the BOI as a new
developer of low-cost, mass housing project (AMAIA Skies Shaw – North Tower)
with a capacity of 1,348 low-cost, mass housing units on a non-pioneer status.”
Amaia’s project is located along Shaw
Boulevard in Mandaluyong City.
Should the BOI approve the
applications, the two firms could enjoy incentives such as income tax holidays
for their respective projects.
The government offers incentives to
firms to encourage investments to be made in certain economic activities.
Every year, the Investment Priorities
Plan (IPP) which lists the economic activities being promoted by the
government, is released by the BOI.
Mass housing is listed as a preferred
activity under the 2013 IPP currently being used.
Other preferred activities listed in
the 2013 IPP are: agriculture or agribusiness and fishery; creative industries
or knowledge-based services; shipbuilding; iron and steel; energy;
infrastructure; research and development; green projects; motor vehicles;
strategic projects; hospital or medical services; and disaster prevention,
mitigation and recovery projects.
The government has yet to release the
IPP for this year.
Communities Bohol is under one of
Vista Land and Lifescapes Inc.’s business units, Communities Philippines Inc.
Vista Land, the country’s largest
homebuilder, caters to all income segments in different parts of the country.
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