BCDA offers fiscal incentives for Clark Green City locators

THE state-run Bases Conversion and Development Authority (BCDA) unveiled its economic incentives for locators in Clark Green City, the country’s first green city, with the goal of spurring local and foreign investments in the former US military base.

Arnel Paciano Casanova, president and chief executive officer of BCDA, said among the applicable five fiscal incentives are: 5 percent special tax on gross income and exemption from all national and local taxes; tax and duty-free importation of raw materials, capital equipment, machinery and spare parts; VAT zero-rating of local purchases subject to compliance with BIR and PEZA requirements ; exemption from payment of any and all local government imposts, fees, licenses or taxes; and exemption from the expanded withholding tax.