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On May 1, 2004, President Gloria Macapagal-Arroyo signed Proclamation No. 626, creating and designating parcels of land situated at the FTI complex as a Special Economic Zone which consists of aggregate area of 243,961 square meters.

Registered as an economic zone with the Philippine Economic Zone Authority (PEZA), locators are entitled to competitive incentives as follows:

Income Tax Holiday (ITH) of Exemption from Corporate Income Tax for 4-8 years;

After ITH period, a special 5% Tax on Gross Income, in lieu of all national and local taxes;

Exemption from duties and taxes on imported capital equipment, spare parts, supplies and other raw materials;

Domestic sales allowance equivalent to 30% of total sales;

Exemption from export taxes, wharfage dues, import and fees;

Permanent residence status for foreign investors and immediate family members;

Employment of foreign nationals;

Simplified import and export procedures;

Other incentives under Executive Order 226 (Omnibus Investment Code of 1987), as may be determined by the PEZA Board.

Note:

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