Exemption from
the Mayor's Permit fees, building permit fees, business sales taxes and
other fees and charges imposed under existing city ordinances with
period of exemptions subject to the following qualifications:
Small
Enterprises - Below P15M - 3 years
Medium Enterprises - P15M - P60M - 4 years
Large Enterprises - Above P60M - 5 years
Exemption from
the basic real property tax on property improvements, buildings and machine-
ries under the Tax Code of Legazpi City, with period of tax exemptions
subject to the following qualifications:
Small
Enterprises - Below P15M - 3 years
Medium Enterprises - P15M - P60M - 4 years
Large Enterprises - Above P60M - 5 years
Should they
locate during the first year of implementation of the Legazpi City
Investment Incentive Code of 1996, the above period of exemption shall be
extended by two (2) years, thus
Small
Enterprises - Below P15M - 5 years
Medium Enterprises - P15M - P60M - 6 years
Large Enterprises - Above P60M - 7 years
Tax reduction
or tax credits for expenditures on construction of "public infrastructure"
(such as roads, bridges, etc.) accessible to public use as determined by the
Board
