Tax Incentive Programs

The Philippine government has several tax incentive programs depending on the nature of one’s business, with different incentive schemes available relative to the location and registration of the proposed business activity.
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Aurora Special Economic Zone Authority (ASEZA)

The ASEZA, also known as Aurora Pacific Economic Zone (APECO), was created by virtue of Republic Act 9490 in 2007. It is designed to be the Philippines’ gateway to the Pacific housing an airport and seaport driven economic center.

APECO is in the municipality of Casiguran, Province of Aurora, at the northeastern quadrangle of Luzon. It is bounded by the provinces of Isabela, Quirino and Nueva Ecija.



Both foreign and local investors with export and/or domestic market can apply for registration and availment of incentives.



• Income Tax Holiday (ITH)
• 5% tax rate imposition on gross income
• Net Operating Loss Carryover (NOLCO) – (Net operating loss of the business or enterprise during the first three years from the start of commercial operations which have not been previously offset as deduction from gross income shall be carried over as a deduction from gross income for the next five consecutive years immediately following the year of such loss.)
• Accelerated depreciation of plant, machinery and equipment that are reasonably needed and actually used for the production and transport of goods and services
• Tax- and duty-free importation of source documents by information technology-registered enterprises
• Exemption from wharfage dues
• Incentives on capital equipment and raw material
• Incentives on breeding stocks and genetic materials
• Deferred imposition of the minimum corporate income tax
• Employment of foreign nationals
• Entitlement to an Investor’s Visa with an investment amount of US$ 150,000.00 in cash and/or equipment in a registered enterprise


• Letter of Intent;
• Documents of legal status (i.e., SEC Registration, Articles of Incorporation, Partnership Agreement, Board Resolution of authorized representative, or other similar documents);
• List of assets comprising the investment to be made;
• Proof of Financial Capacity (financial statements for the last 3 years or bank certificates of deposits/credit line);
• Identification documents of investors;
• Evidence of intended physical location (i.e., Certificate of Title, Lease Agreement, Deed of Sale, etc.);
• Evidence of restructuring which excludes the operations of its ASEZA enterprise from business operations outside of ASEZA (if part of a larger enterprise doing business outside the APECO);
• Certificate of Compliance to Master Plan of ASEZA; and
• Such necessary documents (permits and licenses, letters of reference, etc.).



• Submit accomplished forms (Letter of Intent, Company Profile, Board Resolution, and Project Evaluation Form) to ASEZA for company and project evaluation;
• Submit of documents and other requirements (SEC Registration, Articles of Incorporation, etc.) for validation and evaluation of requirements;
• Receive quotation from ASEZA pertaining to the terms and fees for the proposed project;
• Conform with the terms and pay the indicated fees; and
• Upon project approval, secure ASEZA Certificate of Registration.

• Department of Trade and Industry, Philippines. “Incentives for Investors”. (accessed June 21, 2014).
• Department of Trade and Industry, Philippines. “General Procedures and Application Requrements”. (accessed June 21, 2014).

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