The Davao City Investment and Promotions Center (DCIPC) aims to attract more investors to Davao by enhancing fiscal incentives following the passage of the amended 2019 Davao Investment Code on Friday. DCIPC head April Marie Dayap explained that the updated code offers more favorable tax holidays for businesses investing in the city’s preferred areas, with a broader list of eligible businesses. The ordinance, authored by 3rd District Councilor Myrna Dalodo Ortiz, was approved on its third and final reading. Under Section 30, new projects will receive graduated business tax exemptions for up to five years, along with exemptions from basic real property tax for three years, mayor’s permit fees for five years, amusement tax for four years, and land tax for eligible commercial and fruit-bearing tree plantations for up to 10 years. Previously, incentives were limited to three years of business tax exemption, two years of real property tax exemption, and three years of mayor’s permit fee exemption. The new incentives target sectors such as agri-business, tourism, light manufacturing, and technology, among others. Christian Cambaya, head of DCIPC’s Investor Assistance and Servicing Unit, emphasized the need for Davao to remain competitive with other cities offering better packages. Incentives help reduce startup costs, improve cash flow, and enhance project viability, making Davao a smart choice for business expansion. Non-fiscal incentives include business information, license facilitation, and investment counseling. (Antonio L. Colina IV/MindaNews)
