DAVAO CITY: More tax breaks for investors in emerging business districts

BY JOANNA C. BALANZA

 The Davao City government is offering more tax incentives to investors locating in new Central Business Districts (CBDs) being developed outside of the congested downtown business districts.
    The Davao City Investment and Incentive Code has added more tax perks, on top of old incentives, to businesses locating in the developing CBDs in the upland districts of Calinan, Baguio, Paquibato and Marilog, according to  Davao City Investment Promotion Center (DCIPC) head Jason Magnaye.
    Magnaye said the investment and incentive code is undergoing amendments to attract more investors that include tax holidays that could stretch up to as long as five years.
    He said identified priority areas for investment in the new CBDs are, among others, agri-business, tourism and recreational facilities,telecommunications, reforestation, power generation, light manufacturing and assembly, and property development.

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