The Cabinet-level Fiscal Incentives Review Board has approved the grant of perks to three telecommunications tower companies for its nationwide rollout of fiber optic network for high speed broadband services.
The tax incentives given to these telco companies include 4 years of income tax holiday , followed by 5 years of enhanced deductions, and 11 years of duty exemption on importations of capital equipment, raw materials, spare parts, or accessories from the date of registration, unless otherwise extended in the Strategic Investment Priority Plan .
Danofrata told the BusinessMirror that the Converge project was the biggest in terms of investment value that was granted by tax incentives by the FIRB so far since the enactment of the Corporate Recovery and Tax Incentives for Enterprises Act last year.
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