TDK proposes to make microwave-assisted magnetic recording sliders, industrial equipment used in hard drive manufacturing.
Ms. Danofrata said that the project is classified as an export activity and falls within the activities qualified for incentives under the Strategic Investment Priority Plan. According to the DoF, the project was granted an income tax holiday, special corporate income tax, duty exemption on the import of capital equipment, raw materials, spare parts, and accessories, as well as a value-added tax exemption on imports, and VAT zero-rating on local purchases.
“We want to make sure that all these fiscal incentives we grant to registered business enterprises indeed will result in substantial benefits to our economy,” he added.
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