Bill Type
Congress Name
Long Title
AN ACT RESTRUCTURING THE FISCAL INCENTIVES UNDER EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987, AS AMENDED, AMENDING PERTINENT ARTICLES OF THE CODE, PROVIDING FOR PENALTIES IN VIOLATION THEREOF, AND FOR OTHER PURPOSES
Date filed
July 6, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 746, 12th Congress of the Republic | |
| FULL TITLE : AN ACT RESTRUCTURING THE FISCAL INCENTIVES UNDER EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987, AS AMENDED, AMENDING PERTINENT ARTICLES OF THE CODE, PROVIDING FOR PENALTIES IN VIOLATION THEREOF, AND FOR OTHER PURPOSES | |
| ABSTRACT : This bill seeks to EXTEND the period of tax holidays to a maximum of ten (10) years for pioneer firms, and eight (8) years for non-pioneer firms with the hope that potential investors may consider our country as the best venue for their commercial operations. "Tax holidays" refers to the EXEMPTION granted by the National Government from the imposition of corporate income tax on certain enterprises. | |
| PRINCIPAL AUTHOR/S : VILLAR, CYNTHIA A. | |
| DATE FILED : 2001-07-06 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Chatto (077 ) | 2. Syjuco (023 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE ACTION: jt. ref'ls as per J.17;p.15( Aug. 28,2001) | |
| MOTHER BILL: House Bill No. 6011, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON TRADE AND INDUSTRY ON 2001-07-24 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON WAYS AND MEANS, ECONOMIC AFFAIRS |
Abstract
This bill seeks to EXTEND the period of tax holidays to a maximum of ten (10) years for pioneer firms, and eight (8) years for non-pioneer firms with the hope that potential investors may consider our country as the best venue for their commercial operations. "Tax holidays" refers to the EXEMPTION granted by the National Government from the imposition of corporate income tax on certain enterprises.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.