Ayala, Villar units seek BOI perks

MANILA, Philippines - Two property developers are seeking tax perks from the Board of Investments (BOI) for their housing projects.

In a published notice, the BOI said “Communities Bohol, Inc.,… is applying for registration with the BOI as an expanding developer of low-cost, mass housing project (Camella Bohol Phase 2) with a total capacity of 173 housing units on a non-pioneer status.”

The project is located in Tagbilaran City.

In a separate published notice, the BOI said “Amaia Land Corp.,… is applying for registration with the BOI as a new developer of low-cost, mass housing project (AMAIA Skies Shaw – North Tower) with a capacity of 1,348 low-cost, mass housing units on a non-pioneer status.”

Amaia’s project is located along Shaw Boulevard in Mandaluyong City.

Should the BOI approve the applications, the two firms could enjoy incentives such as income tax holidays for their respective projects.

The government offers incentives to firms to encourage investments to be made in certain economic activities.

Every year, the Investment Priorities Plan (IPP) which lists the economic activities being promoted by the government, is released by the BOI.

Mass housing is listed as a preferred activity under the 2013 IPP currently being used.

Other preferred activities listed in the 2013 IPP are: agriculture or agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; iron and steel; energy; infrastructure; research and development; green projects; motor vehicles; strategic projects; hospital or medical services; and disaster prevention, mitigation and recovery projects.

The government has yet to release the IPP for this year.

Communities Bohol is under one of Vista Land and Lifescapes Inc.’s business units, Communities Philippines Inc.

Vista Land, the country’s largest homebuilder, caters to all income segments in different parts of the country.