PEZA is a Philippine government agency that promotes investment, extends assistance, grants incentives to and facilitates business operations of investors.
PEZA is a Philippine government agency that promotes investment, extends assistance, grants incentives to and facilitates business operations of investors.
Many investors and businessmen at some point choose to offshore or outsource their jobs to reduce their operational cost. To encourage investment in the country, the government of Philippines provides benefits and incentives to foreign entities in the form of tax holiday exemptions. And this is where Philippine Economic Zone Authority (PEZA) comes into the picture.
Philippine Economic Zone Authority (PEZA) is a Philippine government agency that promotes investment, extends assistance, grants incentives to and facilitates business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country. It is attached to the Department of Trade and Industry and is authorized to provide incentives to member companies.
To obtain tax breaks and incentives offered by PEZA, a company must register with it and locate their operations in one of the PEZA zones, buildings, IT parks, or technology parks. And the companies located inside the zone can export 100% of their production. In few cases, PEZA may approve the sale up to 30% of production in the domestic market.
To apply for PEZA registration, one has to first complete an online registration at the Bureau of Internal Revenue (BIR). After this, you can complete the following PEZA requirements:
After submitting all the necessary documents, the company has to wait for the approval for getting the PEZA incentives. PEZA registration process normally requires a minimum of 21 days to get completed.
The additional documents include general and technical data documents. They are:
The businesses which can apply for getting incentives from PEZA registration are as follows:
Business Setup Worldwide offers the following PEZA registration services for your company:
Foreign Companies setting up an export business in the Philippines may opt to register with the PEZA for tax incentives. In addition to these incentives, locating in a PEZA-accredited facility or area also ensures that doing business in the Philippines is smoother and easier. Not only do businesses save on taxes and fees, they also ensure that permits and other registration requirements are secured in a short span of time. We at Business Setup Worldwide assist you in accomplishing the forms, presentation, and submission of other required documents to ensure that you get your accreditation as quickly as possible. Contact us to know more about the perks and benefits of being a PEZA member.