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NOTICE TO THE PUBLIC
Maricar Uy of Bulua, Cagayan de Oro
Ms. Maria Carmela Ybañez Uy or Maricar Uy stopped working with Nazca Designs in August 2009. Any financial transaction of Maricar Uy is hers alone and does not represent Nazca Designs.
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The following 2003 incentives are granted to investors whose enterprises are listed in the Investment Priorities Plan (IPP). This list maybe obsolete. See the 2008 IPP of the Board of Investments. Ask the City Hall or the Department of Trade and Industry-Misamis Oriental for the latest IPP.

Fees Exemption

 

During the first three years of commercial operation, registered enterprises are fully exempted from the following dues:

  • Mayor's Permit Fee
  • Business Manager's Fee
  • Oath Fee
  • Building Permit Fee
  • Other ocal licenses, fees, and dues

Excluded are Health Certificate Fee, Sanitary Permit Fee, Garbage Collection Fee, Fire Inspection Fee, Tax on Billboard, Tax on Delivery Van, and Tax on Weight and Measures.

Real Property Tax Exemption

The following real properties, equipment and devices are exempted:

  • Commercial buildings or improvements of the buildings, or both, and the lots where these buildings are constructed, provided that the subject lot is owned by the applicant or has legal interest in it.
  • Equipment or devices or investments for pollution control and environmental protection; and fire protection equipment.
  • Commercial or residential lands used exclusively for parking purposes, provided that no commercial activity shall be conducted within the premises and that all available parking spaces shall be open to the public.
  • Lots used as public roads

The aforementioned tax exemptions shall start upon occupancy or completion of the building -- whichever comes first -- and shall be provided under the following schedule:

First to third year 100%
Fourth year 75%
Fifth year 50%
Sixth year 25%
Seventh year Full taxation

Gross Sales Tax Exemption

 

For a period of not more than six years, starting from the date of approval of their applications, registered investors shall be entitled to the following reductions and exemptions in business tax from the gross sales or receipts earned or realized during the preceding calendar year:

First to third year 100% of gross sales
Fourth year 75% of gross sales
Fifth year 50% of gross sales
Sixth year 25% of gross sales
Seventh year Full taxation
 
 
 
 
 
 
DISCLAIMER: A large amount of information is this website was compiled in 2003. Updates are supplied in some sections. User assumes all risk of use. |
See also the updated Cagayan de Oro Tourist and Travel Guide and the Cagayan de Oro profile in the National Statistical Coordination Board.