New locators at Aboitiz InfraCapital’s integrated economic centers are positioned to avail of tax benefits, thanks to the government’s Corporate Recovery and Tax Incentives for Enterprises Act, or the CREATE Law, which aims to provide lower taxes to qualified companies.
Touted as the replacement of the Corporate Income Tax and Incentives Rationalization Act, or CITIRA, CREATE is set to give businesses a much-needed boost after being passed into law, amid the economic challenges brought about by the COVID-19 pandemic.
Under CREATE, new exporters based in places such as Lipa-Malvar, Batangas, and Balamban, Cebu, can enjoy as much as seven years of Income Tax Holiday (ITH), and 10 years of Special Corporate Income Tax (SCIT), or Enhanced Deductions (ED) regime.
Last year, Aboitiz InfraCapital unveiled expansion plans for LIMA Estate and West Cebu Industrial Park (WCIP), in response to the strong demand for industrial and commercial spaces in Batangas and Cebu.
The first phase of LIMA’s industrial expansion of 34 hectares is now open for reservations and under construction. It will become available for locators to construct in by Q2 of 2022.
