The City of Roxas Investment Board (CRIB) was created to implement Ordinance No. 80-96 entitled, "An ordinance enacting the Roxas City Investment Code of 1996". This ordinance was subsequently amended by Ordinance No. 147-98, series of 1998, also known as the "Roxas City Investment Code of 1998."
The CRIB is tasked to recommend to the Sangguniang Panlunsod investment incentives for prospective foreign and local investors of Roxas City. It aims to accelerate the development of Roxas City thru the promotion of investments in agro-industrial, industrial, commercial and tourism oriented projects.
Who May Avail of the CRIB Incentives?
All new, expanding, or diversifying enterprises with new investment projects of at least PhP 2M or employing at least 10 local residents of Roxas City.
What are the Requirements for Application?
- Duly accomplished application form, together with copy of official receipt as proof of payment of application fee in the amount of 100,000 pesos;
- Copy of Articles of Incorporation and By-Laws of the Investor-applicant, if a Corporation;
- Certificates of Registration from:
- Securities & Exchange Commission
- Department of Trade & Industry
- Board of Investment (Optional)
- Audited Financial Statement for the last 3 years of business operation, for an expanding business enterprise;
- Resolution of the Board of Directors of the corporate investor-applicant authorizing the filing of application for investment incentives availment with the CRIB;
- Project Profile/Feasibility Study;
- Certification of investor-applicant’s bank deposit (no amount to be mentioned);
- Vicinity Map of the location of business
Note: These requirements are to be submitted to the Mayor’s Office, Roxas City Hall, on or before the applicant’s Mayor’s Permit has been approved.
Incentives and Benefits
The Fiscal Incentives are as follows:
- Exemption from payment of all local business taxes for a period depending on the amount of new investment in land and land development, buildings and improvements, machinery and equipment and other tangible capital assets, or on the extent of new direct permanent employment generation in the locality per the following schedule:
AMOUNT OF NEW INVESTMENT IN FIXED TANGIBLE CAPITAL ASSET (in pesos)
|
NEW PERMANENT EMPLOYMENT
|
NO. OF YEARS OF EXEMPTION
|
2.0M - 15M
15M - 30M
30M - 45M
45M - 60M
Over 60M
|
10-30 persons
31-45 persons
46-60 persons
61-75 persons
Over 75 persons
|
1 year
2 years
3 years
4 years
5 years
|
- 20% discount on real property taxes within the period of availment of business tax exemptions whenever Real Property Tax paid in advance on the yearly or any quarterly installment payment deadline.
- One (1) Year moratorium on payment of real property tax on permanent improvements after completion of the same.
- New investment project undertaken by a newly-organized, expanding or diversifying business enterprise that has qualified for incentives under any of the national investment incentive laws and programs, e.g., E.O. No. 226 (Omnibus Investment Code of 1987), Foreign Investors Act of 1991 (R.A. 7042), P.D. No. 194, R.A. 6557, R.A. 7227, E.O. 120 and other national laws granting various forms of business incentives.
- The financial incentives are the same as that of No. 1 above.
- New investments project undertaken by a newly-organized expanding or diversifying business enterprise located in any specially-delineated area under the Site Development Priority Plan promulgated by CRIB:
- Discounts on excavation and occupancy fees as follows:
AMOUNT OF NEW INVESTMENT IN FIXED TANGIBLE CAPITAL ASSET (in pesos)
|
NEW PERMANENT EMPLOYMENT
|
PERCENTAGE DISCOUNT
|
2.0M - 15M
15M - 30M
30M - 45M
45M - 60M
Over 60M
|
10-30 persons
31-45 persons
46-60 persons
61-75 persons
Over 75 persons
|
15% discount
25% discount
50% discount
75% discount
100% discount
|
- 70% discount on building permit; and
- Beyond the period of business tax exemption, total amount paid for salaries may be deducted from annual sales for purposes of computing business tax for the ensuing years as follows:
- 1st year (after exemption period) - 100%
- 2nd year (after exemption period) - 75%
- 3rd year (after exemption period) - 50%
- 4th year (after exemption period) - 25%
- 5th year (after exemption period) - 10%
Non-Fiscal Incentives are as follows:
- Assistance from the Investment Promotion Center, particularly in the documentation of their application for registration;
- Assistance from the Investment Promotion Center for the needed data in the preparation of Investor’s Project Feasibility Study or Business Plan, if needed.
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