Pon The Endorsement Of Subic Bay Metropolitan Authority Sbma News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Finance Secretary and FIRB chairman Carlos Dominguez III MANILA - The Fiscal Incentives Review Board (FIRB), upon the endorsement of the Subic Bay Metropolitan Authority (SBMA), has approved the grant of tax incentives to Project AGILA for the redevelopment and operations of the Hanjin shipyard in the Subic Bay freeport zone. Finance Secretary and FIRB chairman Carlos Dominguez III supported the approval of the tax perks for Project AGILA with a total project cost of PHP17 billion as the rehabilitation of the Hanjin shipyard presents economic potential given its strategic location near the West Philippine Sea (WPS). The project was granted special corporate income tax (SCIT), value-added tax (VAT) exemption from importation, VAT zero-rating on local purchases, and duty exemption on importation. "We expect the project to create jobs in the adjacent communities, increase economic activity as well as support the national government's economic recovery efforts," Dominguez sai ....

United States , Subic Bay , Philippine Navy , Subic Bay Metropolitan Authority , Fiscal Incentives Review Board , Carlos Dominguez , West Philippine Sea , Cerberus Capital , Finance Secretary And Firb Chairman Carlos Dominguez Iii Manila The Fiscal Incentives Review Board , Pon The Endorsement Of Subic Bay Metropolitan Authority Sbma , As Approved The Grant Of Tax Incentives To Project Agila For Redevelopment And Operations Hanjin Shipyard In Subic Bay Freeport Zone Finance Secretary Firb Chairman Carlos Dominguez Iii Supported Approval Perks Witha Total Cost Php17 Billion Rehabilitation Presents Economic Potential Given Its Strategic Location Near West Philippine Sea Wps Was Granted Special Corporate Income Scit , Alue Added Tax Vat Exemption From Importation , At Zero Rating On Local Purchases , Nd Duty Exemption On Importation Quot We Expect The Project To Create Jobs In Adjacent Communities , Ncrease Economic Activity As Well Support The National Government 39s Recovery Efforts , Uot Dominguez Said Quot The Resumption Of Operations In Shipyard Will Also Prompt Development And Productivity Area , Hich Can Attract More Investment Opportunities Into The Country Quot Project Will Cater To Both Philippine Navy Pn And Potential Export Locators It Be Beneficial , Pecifically To The Navy , S It Will Involve The Safety And Efficiency Of Philippine Government Ships 39 Performance , Trengthen National Security This Project Is Funded By United States Us Based Private Equity Firm Cerberus Capital Management Pr ,