Aurora Special Economic Zone Authority (ASEZA) Tax Incentives in the Philippines

The Aurora Special Economic Zone Authority (ASEZA), previously known as Aurora Pacific Economic Zone (APECO), was established under Republic Act 9490 in 2007. It is a strategic gateway for the Philippines to the Pacific region and is home to an airport and seaport-driven economic center.

Located in the municipality of Casiguran, Province of Aurora, in the northeastern quadrant of Luzon, ASEZA is bordered by the provinces of Isabela, Quirino, and Nueva Ecija.

Qualifications:

ASEZA welcomes both local and foreign investors engaged in export and/or domestic markets to apply for registration and avail incentives.

ASEZA offers various incentives to registered investors, including:

• Income Tax Holiday (ITH)
• Imposition of a 5% tax rate on gross income
• Net Operating Loss Carryover (NOLCO): Net operating losses incurred during the first three years from the start of commercial operations can be deducted from gross income for the next five consecutive years.
• Accelerated depreciation of plant, machinery, and equipment used for production and transportation purposes
• Tax- and duty-free importation of source documents for information technology-registered enterprises
• Exemption from wharfage dues
• Incentives on capital equipment and raw materials
• Incentives on breeding stocks and genetic materials
• Deferred imposition of the minimum corporate income tax
• Employment opportunities for foreign nationals
• Eligibility for an Investor’s Visa with a minimum peso-equivalent investment amount of US$150,000.00 in cash and/or equipment in a registered enterprise

For investors to apply for registration and avail of the ASEZA incentives, investors are required to provide the following documents:

1. Letter of Intent
2. Documents proving legal status (e.g., SEC Registration, Articles of Incorporation, Partnership Agreement, Board Resolution of authorized representative, or similar documents)
3. List of assets comprising the investment to be made
4. Proof of Financial Capacity (financial statements for the last three years or bank certificates of deposits/credit lines)
5. Identification documents of investors
6. Evidence of intended physical location (e.g., Certificate of Title, Lease Agreement, Deed of Sale, etc.)
7. Evidence of restructuring, excluding the operations of the ASEZA enterprise from business operations outside of ASEZA (if part of a larger enterprise conducting business outside APECO)
8. Certificate of Compliance with the Master Plan of ASEZA
9. Additional necessary documents (permits and licenses, letters of reference, etc.)

Investors wanting to register and obtain incentives; investors are required to follow these steps:

1. Submit completed forms, including the Letter of Intent, Company Profile, Board Resolution, and Project Evaluation Form, to ASEZA for company and project evaluation.
2. Submit documents and other requirements, such as SEC Registration, and Articles of Incorporation, for validation and evaluation.
3. Receive a quotation from ASEZA detailing the terms and fees for the proposed project.
4. Comply with the terms and pay the indicated fees.
5. Upon project approval, obtain the ASEZA Certificate of Registration.

Get additional savings for your enterprise and improve your company’s growth and development. Register with the country’s investment supporting agencies. Triple i Consulting  helps foreign-owned and locally-owned businesses register for ASEZA’s tax incentive programs.

With extensive knowledge and skills in tax incentive programs, like ASEZA, Triple i is the first ISO 9001:2008 company in the Philippines, which offers business registration services and tax incentive application assistance to its clients.

To find out if your company is eligible for ASEZA, book a free initial consultation with one of our tax incentive experts, contact us through one of the following channels:

• Contact Us Here
• Fill Out the Form Below
• Call us at +63 (02) 8540-9623
• Email us at info@tripleiconsulting.com