Philippine Economic Zone Authority (2024)

FAQs

What does the Philippine Economic Zone Authority do? ›

PEZA is also the Philippine government agency tasked to extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country proclaimed by the President of the Philippines as PEZA Special ...

It specifically provides assistance to foreign entities in facilitating business operations of investors within selected areas in the country, which are called PEZA Special Economic Zones. Once accredited, business with PEZA certificates are entitled to fiscal and non-fiscal incentives.

The Philippines has an exclusive economic zone that covers 2,263,816 square kilometers (874,064 sq mi) of sea. It claims an EEZ of 200 nautical miles (370 km) from its shores.

Does the Philippines have sovereignty or sovereign rights over its EEZ? Carpio explained: “Under international law, the Philippines has sovereignty over its territorial sea (12 nautical miles), and jurisdiction over its EEZ (beyond 12 nautical miles up to 200 nautical miles).

Philippine Economic Zone Authority (PEZA), formerly known as Export Processing Zone Authority (EPZA), is a government agency in the Philippines attached to the Department of Trade and Industry created to help promote investments in the export-oriented manufacturing industry into the country by assisting investors in ...

Philippine Economic Zone Authority. “Section 24. Exemption from National and Local Taxes. - Except for real property taxes on land owned by developers, no taxes, local and national, shall be imposed on business establishments operating within the ECOZONE.

3. What are the activities that may qualify for registration with PEZA? Activities that qualify for registration with PEZA are those that involve manufacturing, processing or assembling for export as well as those activities that support exports.

How much is the annual fee of PEZA? ›

Upon approval by the Director General of PEZA, payment of the following should be made: Application Fee – Php 3,600.00. Annual Franchise Fee of Php 6,000.00 (Php 500.00 per month) Registration Fee – Php 3,600.00.

The conflict between China and the Philippines in the Western Philippine Sea (a.k.a. the South China Sea) is the result of years of territorial dispute over the Spratly Islands – a group of 7,500 islands and reefs that multiple countries have claimed as their own.

The administrative order asserts the Philippine claim over its EEZ in the South China Sea which conveys the Philippine government's position that it has sovereign rights under the 1982 United Nations Convention on the Law of the Sea over the West Philippine Sea area and "inherent power and right to designate its ...

Under international law, China has zero claim on the West Philippine Sea, but Beijing continues to claim it by law and by force of arms. “Filipinos have every right to explore and develop the oil and gas in the West Philippine Sea, including Reed Bank, without interruption or harassment from other countries,” he added.

“The Philippine position is we continue to exercise full sovereignty over Bajo de Masinloc and its territorial sea, as well as sovereign rights and jurisdiction over the surrounding EEZ (exclusive economic zone) and continental shelf,” Andanar said in a press statement.

A coastal State has sovereign rights to the management of natural resources and other economic activities within its Exclusive Economic Zone (EEZ). See Restatement (Third) of Foreign Relations Law § 514.

The Philippines has claimed many territories throughout its history. These territories include the Spratly Islands, portions of North Borneo, and the Scarborough Shoal.

EPZ incentives include tax- and duty-free importation of capital equipment, raw materials and spare parts. The government has designated 4 EPZs; Bataan, Cavite, Baguio City and Mactan Island in the Visayas.

The Philippine Economic Zone Authority (PEZA) is an investment promotion agency (IPA) responsible for administering and regulating tax incentives to foreign enterprises willing to set up or establish their business in Special Economic Zones (SEZs).

The Philippine Economic Zone Authority (PEZA) said that it has approved the registration for the PHP 125-billion (USD 2 . 4 billion) Quezon Techno-Industrial Special Economic Zone (QTISEZ) project, which will be the largest economic zone in the country. Local firm Achievement Realty Corp.

Is Wells Fargo under PEZA? ›

It has its principal office in the Philippines at the Wells Fargo Center, 1180 Wells Fargo Drive, McKinley Hill Cyberpark, Taguig City. 2 It is also registered with the Philippine Economic Zone Authority (PEZA) as an Ecozone IT Enterprise at the McKinley Hill Cyberpark with Certificate of Registration No.

Guidelines on the transfer

22-19 which details the procedures on the registration of PEZA-registered IT-BPO companies with the Board of Investments (BOI) to allow the adoption of 100% work-from-home arrangements, PEZA has issued Memorandum Circular No. 2022-067 to guide its locator companies on the said transfer.

PCCI president George Barcelon said that while Peza-registered firms can refund their VAT payments on purchased goods, the procedure added another bureaucratic level to a previously straightforward availment of the incentive.

We gather that the requests stemmed from the demand of certain suppliers of the RBES for an endorsem*nt from PEZA pursuant to RR No. 21-2021 dated 03 December 2021, which provides that: "SECTION 5. Value-added Tax (VAT) zero-rating and exemption.

PEZA. The Permit to Locate issued by the Authority shall be valid only for one (I) year and renewable every year or until termination of business in the economic zone. Non-PEZA enterprise with expiring Permit to Locate shall seek renewal thirty (30) days before the date of expiration.

A SEZ or FTWZ other than a SEZ for IT/ITES, Biotech or Health (other than hospital) service, shall have a contiguous land area of 50 hectares or more.

These incentives include tax holidays, tax exemptions, tax credits, and tax and duty-free importation of capital equipment. To be eligible for tax incentives from PEZA, foreign companies are required to locate their office in one of its Special Economic Zones (SEZs).

Special economic zones (SEZs) are typically created in order to facilitate rapid economic growth by leveraging tax incentives to attract foreign investment and spark technological advancement.

Solution : Facilities available in the Special Economic Zones developed by the Central and State governments: <br> (i) Special Economic Zones (SEZs) are to have world class facilities, electricity, water, roads, transport etc. <br> (ii) Government provides recreational and educational facilities.

With more 3.4 million square nautical miles (4 million square miles) of ocean, the U.S. EEZ is larger than the land area of all 50 states combined and is one of the largest EEZs in the world.

Does the US have any Special Economic Zones? ›

The U.S. Exclusive Economic Zone (EEZ) extends no more than 200 nautical miles from the territorial sea baseline and is adjacent to the 12 nautical mile territorial sea of the U.S., including the Commonwealth of Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Commonwealth of the Northern Mariana Islands ...

Philippine Economic Zone Authority (PEZA), formerly known as Export Processing Zone Authority (EPZA), is a government agency in the Philippines attached to the Department of Trade and Industry created to help promote investments in the export-oriented manufacturing industry into the country by assisting investors in ...

1. Economic Zone Facilities Enterprise. Special 5% Tax on Gross Income and exemption from all national and local taxes, except real property tax on land owned by developers.