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LEGAZPI CITY Section 13. Qualification of New Enterprises. 3.

That the business enterprises shall have the

INVESTMENT INCENTIVE CODE New investors who intend to avail of the incentives following capitalization:
(SP Ordinance No. 96-016, as amended by SP provided in this Code must meet the following Small enterprise - P3.001M - P15M
Ordinance No. 0011-2006) qualifications: Medium enterprise - P15.001M - P100M
Large enterprise - P100.001M & above
1. That the business enterprise must have
Section 11. Priority Development Areas. complied with all the requirements mandated
The prospective investors place of operation or under existing local and national laws and the Section 15. Application Requirements.
production be located within the identified Priority Constitution; Applications shall be filed with the Board, thru the
Development Areas (PDAs) as follows: IPC, recorded in a registration book and the date
2. That the prospective investors place of appearing therein and stamped on the application
Southern Barangays: operation or production be located within the shall be considered the date of official receipt
1. Taysan 6. Cagbacong PDAs of Legazpi City; thereof.
2. Homapon 7. Buenavista
3. Banquerohan 8. Bagacay 3. That the prospective investment must engage in A non-refundable filing fee of One Thousand Pesos
4. San Francisco 9. Estanza activities in PIAs; (P1,000.00) shall be paid, together with the
5. Bariis 10. Mariawa following documents for registration:
11. Imalnod 4. The new enterprise must have the following
capitalization: 1. Copies of completed application form to be
Southeastern Barangays: Small enterprise - P3.001M - P15M provided by the Board, thru the IPC, in
1. Puro 2. Lamba 3. Maslog Medium enterprise - P15.001M - P100M accordance with the provisions of this Code;
Large enterprise - P100.001M & above
Western Barangay: 1. Bogtong 2. A copy of the complete project study of the
Provided, that the amount of capitalization shall proposed investment showing that the project is
Urban Barangays be based on the total project cost, as stated in economically, technically, and financially
the investors study submitted to the approved feasible and viable;
by the Board.
Section 12. Priority Investment Areas. 3. A copy of its Articles of Incorporation and By-
The following are the Priority Investment Areas Section 14. Qualifications of Existing Enterprises. laws as approved by the Securities and
(PIAs): An existing enterprise may avail of the incentives Exchange Commission;
1. Manufacturing under this Code, provided that it meets the
2. Agribusiness following qualifications: 4. A certified true copy of its Certificate of
3. Forestry Registration with the Securities and Exchange
4. Fishing 1. That the business enterprise must have Commission, the Department of Trade and
5. Mining complied with all the requirements mandated Industry, as the case may be;
6. Tourism-Related Projects under existing local and national laws and the
7. Infrastructure Constitution; 5. Board resolution authorizing an officer to
8. Information & Communication Technology transact, execute and sign in behalf of the
(ICT) Enabled Services 2. That the existing business enterprise must applicants firm, and
9. Other ICT-Related Services. engage in PIAs and in the PDAs;
6. Audited Financial Statement and Income Tax d. Tax reduction or tax credits for expenditures on
Return for the past three (3) years or for the construction of public infrastructure (such as
period the applicant has been in operation if roads, bridges, etc.) accessible to public use as
less than three (3) years (for existing firms) or determined by the Board;
sworn statement of assets and liabilities of
majority stockholders (for new corporations). e. Skills trainings.

Section 21. Tax Incentives to Registered Enterprises. Section 22. Additional Tax Incentives to Existing
In addition to the incentives provided by law and Enterprises.
by the Local Government Code of 1991, a Existing enterprises which do not qualify under
registered enterprise qualified under this Code shall Section 14 of this Code shall enjoy the following tax
enjoy the following tax incentives: reductions or tax credits under Section 22 for
undertaking the following:
a. Exemption from the Mayors Permit Fees,
Building Permit Fees, Business Sales Taxes, and 1. Construction of public infrastructure (such as
other fees and charges imposed under existing roads, bridges, etc.);
city ordinances, with period of exemptions 2. Aesthetic improvements on buildings and other
subject to the following qualifications: structures for business use located in existing
Small enterprises - 3 years commercial centers; wherein said
Medium enterprises - 4 years improvements are socially acceptable,
Large enterprises - 5 years environment-friendly and contribute positive
values to the benefit of the City government
b. Exemption from the basic Real Property Tax on and its residents;
property improvements, buildings and 3. Clean and green projects such as, tree planting
machineries under the Tax Code of Legazpi at the designated areas by Legazpi City
City. The period of tax exemptions is subject to Government.
the following qualifications:
Small enterprises - 3 years
Medium enterprises - 4 years
Large enterprises - 5 years CONTACT DETAILS

c. Should they locate during the first year of Investment Promotion Center (IPC) CPDO-RESD October 2007

implementation of this amended Code, the Business Center, City Hall Compound
Rizal Street, Legazpi City
above period of exemption shall be extended
by two (2) years.
Small enterprises - 5 years
City Planning & Development Office
Medium enterprises - 6 years
2F City Hall Building, Rizal St., Legazpi City
Large enterprises - 7 years  052-8206075/8202927