The government and developers see the passage of the CREATE (Corporate Recovery and Tax Incentives for Enterprises) Law as making office buildings accredited by the Philippine Economic Zone Authority more attractive for locators from the IT-BPO industry.

“CREATE provides I.T.- BPO companies certainty about their incentives, which helps justify their business case in the Philippines,” said PEZA Deputy Director General for Policy and Planning Tereso Panga.

PEZA LOGO

He noted that, “Now that CREATE has been passed into law, existing PEZA companies have enough time to transition their operations from the existing Income Tax Holiday (ITH), to the sunset provision of 5 percent tax on GIE (gross income earned) for 10 years, to a 25 percent Corporate Income Tax.”

For new PEZA registered companies, a 4- to 7-year window is granted to enjoy the ITH, after which, they may enjoy the Special Corporate Income Tax (SCIT) or Enhanced deductions. The SCIT is 5 percent of GIE for a period of 10 years.

Thus, CREATE provides a framework that gives PEZA registered business, both old and new, the much needed predictability for their respective operations to continue in the Philippines.

PEZA-Certified Cybergate Galleria Cebu

Robinsons Land Corporation Senior Vice President and Office Buildings General Manager Jericho Go see this as a boon to the firm’s new office buildings such as Cybergate Galleria Cebu.

A Presidential Proclamation has been issued just last April declaring Cybergate Galleria Cebu as a PEZA-certified special economic zone.

“This means that businesses that set up their offices in Cybergate Galleria Cebu will no longer have to worry about what incentives are in store for them as it is now clear that they will continue to enjoy PEZA benefits, as provided for in the CREATE Law,” Go said.

Cybergate Galleria Cebu

Strategically located within the Robinsons Galleria Cebu Destination Estate, the 13-storey Cybergate Galleria Cebu has 9 office floors ready for occupancy with a total gross leasable area of 19,500 square meters.

The building has large and efficient floor plates of about 2,100 square meters which will allow tenants to have more flexibility in designing their workspaces since it does not have awkward or odd spaces that need to be worked around.

Cybergate Galleria Cebu is in an ideal location as it is in close proximity to residential communities, schools, hospitals, hotels, commercial and lifestyle centers, and is easily accessible to public transportation. It is also just 12 kilometers away from the Mactan International Airport.

The 66,000 square meter Robinsons Galleria Cebu mall offers a world of convenience and leisure outlets for locators as it features a wide selection of retail, service, entertainment and dining options.

Cybergate Galleria Cebu also has a retail area at the ground floor which will also have food and service operators serving building occupants so they do not have to leave the premises.

Aside from these, Cybergate Galleria Cebu is also right beside the 220-room Summit Hotel and the upcoming 3-tower Galleria Residences Cebu. All these are in the 5-hectare complex along General Maxilom Avenue, Cebu City.

“Robinsons is passionate about creating LIVE-WORK-PLAY-INSPIRE Destination Estates in the provinces. We believe that doing so gives our countrymen equal opportunities to be employed where they live,” said Go.

He added that, “We envision that the good paying jobs coming from IT-BPM companies will help keep families together when job opportunities are created in their city. Cebuanos will no longer have to leave their families behind because they need to look for jobs in Metro Manila or in another country. They now have a viable employment alternative here.”

With the completion of Cybergate Galleria Cebu, RLC’s portfolio now has 26 office buildings of which 25 are PEZA-registered.

“While 16 of these are in Metro Manila, we now have a nationwide network with office buildings also in Tarlac, Ilocos Norte, Naga, Davao and Cebu,” said Go.


Source: Manila Bulletin (https://mb.com.ph/2021/07/09/peza-rlc-sees-create-law-boosting-it-bpo-industry/?utm_source=rss&utm_medium=rss&utm_campaign=peza-rlc-sees-create-law-boosting-it-bpo-industry)