Grant of real property tax incentive to investors with P1B capital urged
The city's economic managers have recommended to Mayor Jerry Treñas the grant of tax incentive on the Real Property Tax (RPT) of prospective investors with capitalization of P1 billion or more.
The move is expected to attract more investors to come in to the city.
Trenas, in an interview, said he will consider such recommendation of his economic managers, namely, City Treasurer Katherine Tingson, City Assessor chief Nelson Parreño, City Accountant Consolacion Tormon and City Budget Officer Ninda Atinado. .
Treñas admits having a P1 billion investment for the city is already a good indication of healthy economic activities.
He said it will create more money circulation, jobs and other opportunities for the city
Apart from the giving out of tax incentive on real property tax, the chief executive said they are also studying some options to encourage more investors for Iloilo City.
The city is looking into the tax incentive scheme offered by other local government units to its investors and other incentives the city can offer based on its Tax Investment Ordinance, said Treñas.