Quezon City Mayor Joy Belmonte announced the approval of amendments to a 2013 ordinance providing fiscal incentives for medium to large businesses.
The revised measure aims to attract more investors and promote local economic growth, allowing new enterprises with assets over P15 million to apply for a two-year exemption from various taxes, including business and property taxes.
Additionally, businesses listed in the city’s investment priorities plan may receive an extra year of tax exemption.
Companies expanding or opening new branches in Quezon City can also benefit from similar tax breaks, while those relocating their main offices may qualify for a 10-year exemption on taxes for sales made outside the city.
Businesses interested in these incentives must register with the Local Economic Investment Promotions Office and receive approval from the QC Economic Development and Investments Board.
Source: PhilNews24 | September 27, 2024
QUEZON CITY OFFERS ENHANCED PERKS FOR LOCAL ENTERPRISES
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