Finance Secretary Benjamin Diokno says the government granted tax incentives as these projects are set to generate thousands of jobs for Filipinos.
MANILA, Philippines – The Fiscal Incentives Review Board under the Marcos administration granted tax perks worth close to P30 billion to 25 projects in a bid to attract more investments.
Unilever Philippines was granted the largest tax incentive worth P9.4 billion for its manufacturing plant in General Trias, Cavite. The project, with an investment capital of P4.8 billion, will enjoy six years of income tax holidays, five years of enhanced deductions, and 11 years of duty exemption on importation.
Other companies that got tax perks over P1 billion are Sumi North-Philippines Wiring Systems Corporation , Enovate Motors , Century Peak Energy Corporation , LBS Digital Infrastructure Corporation , Evolution Data Centers Philippines , Unity Digital Infrastructure Incorporated , and ING Business Shared Services BV Branch Office .
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