Vista Land unit seeks tax perks for Cavite housing project

MANILA, Philippines - A unit of Vista Land and Lifescapes Inc. is trying to qualify for tax perks with the Board of Investments (BOI) for a housing project in Cavite.

The BOI, in a published notice, announced that Household Development Corp. “is applying for registration with the BOI as an expanding developer of low-cost mass housing project (Cerritos) with a capacity of 124 low-cost mass housing units on a non-pioneer status.”

The project is located at Brgy. Molino IV Bacoor, Cavite.

If its application is approved by the BOI, the firm could enjoy incentives such as income tax holidays.

The BOI encourages investments to be made in the country through the grant of tax exemptions and other benefits in preferred areas of economic activity.

Every year, the BOI formulates the Investment Priorities Plan (IPP) which lists the priority activities for investments.

Under the 2012 IPP which is currently being used by the BOI, mass housing is identified as a preferred activity.

The 2012 IPP’s other preferred activities are agriculture, agribusiness and fishery; creative industries or knowledge-based services; shipbuilding; energy; infrastructure; research and development; green projects; motor vehicles; strategic projects; disaster prevention, mitigation and recovery projects; iron and steel; and hospital or medical services.

It also has a mandatory list covering industries that require their inclusion as provided for under existing laws and covers export activities as well as priority activities identified by the Regional Board of Investments of the Autonomous Region in Muslim Mindanao.

The 2013 IPP, which is a carryover of the 2012 list with minor changes, has yet to be released.

Household Development Corp. is under one of Vista Land’s business units, Camella Homes, Inc.

Aside from Camella Homes, Vista Land has other business units which are Brittany Corp., Communities Philippines, Inc.,Crown Asia Properties, and Vista Residences, Inc.