Better incentives await medium, large QC enterprises

Quezon City Mayor Joy Belmonte has approved an ordinance updating the incentives provided by the local government to medium and large enterprises.

- JANVIC MATEO

The ordinance, which updates the city's economic development incentives code, aims to offer "better and more customized fiscal incentive packages to medium and large businesses," the local government said.

Under the policy, new medium and large enterprises with assets of more than P15 million (excluding land value) may apply for a two-year exemption from business, amusement, franchise and real property taxes on registered land and new buildings constructed within two years from registration.