Legislative History
| House Bill/Resolution NO. House Bill No. 5631, 12th Congress of the Republic |
| FULL TITLE : AN ACT HARMONIZING AND RATIONALIZING THE ADMINISTRATION AND GRANT OF FISCAL AND NON-FISCAL INCENTIVES REPEALING FOR THIS PURPOSE EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987 |
| ABSTRACT : "The Investments and Incentives Code of the Philippines." The objective of this bill is to harmonize and simlify the government administration of programs and policies on the grant of fiscal and non-fiscal incentives to promote foreign and domesticinvestments in the Philippines. > The fiscal investments will rationalize the grant of incentives that will be clear, simple, time-bound, performance based and at par with the regional countries. The Investment Priorities Plan (IPP) will include industries with high comparatice advantage, new product/service and export oriented products and valid for a period of three (3) years. All Investment Promotion Agencies (IPA) will draw their incentives in this proposed bill. A cap on the total amount off incentives of a registered enterprise will be imposed. In addition, incentives without a specific period shall be enjoyed for a period of twenty (20) years from the date of registration or start of commercial operations, whichever is applicable exc |
| PRINCIPAL AUTHOR/S : LEDESMA, JULIO IV A. |
| DATE FILED : 2003-01-23 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: House Bill No. 6011, 12th Congress of the Republic |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2003-01-29 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON TRADE AND INDUSTRY, ECONOMIC AFFAIRS |
Abstract
"The Investments and Incentives Code of the Philippines." The objective of this bill is to harmonize and simlify the government administration of programs and policies on the grant of fiscal and non-fiscal incentives to promote foreign and domesticinvestments in the Philippines. > The fiscal investments will rationalize the grant of incentives that will be clear, simple, time-bound, performance based and at par with the regional countries. The Investment Priorities Plan (IPP) will include industries with high comparatice advantage, new product/service and export oriented products and valid for a period of three (3) years. All Investment Promotion Agencies (IPA) will draw their incentives in this proposed bill. A cap on the total amount off incentives of a registered enterprise will be imposed. In addition, incentives without a specific period shall be enjoyed for a period of twenty (20) years from the date of registration or start of commercial operations, whichever is applicable exc
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.