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CDC Registration for Local and Foreign Enterprises in the Philippines
The Clark Development Corporation (CDC) is owned and controlled by the government to create quality employment and assist in the economic growth of the Philippines, specifically within the Clark Freeport and Special Economic Zone. This is a redevelopment of the former Clark Air Base into becoming “the most competitive international service and logistics center in the Southeast Asian Region” by providing feasible business opportunities.
At present, CDC accommodates over 900 companies in different industries including electronics, IT/BPO, Manufacturing, Aviation, Tourism, and other services. Moreover, such companies contribute to the Philippines job pool providing around 115,000 jobs to Filipino employees.
Advantages of Registering with CDC
Companies that will register and set up a business with the CDC are entitled to certain advantages, such as the following:
- Unrestricted access to Clark Freeport’s 2500 hectare modern aviation complex
- Modern Telecommunications Facilities
- Advanced Power and Water Supplies
- Modern Waste Management Facilities
- Road Networks and Other Infrastructures
All of these benefits are unique to other business locations in the Philippines. Putting up a business in Clark can provide several advantages that are unavailable to other locations such as the access availability to certain locations and various advanced facilities.
CDC Tax Incentives
CDC also provides tax incentives to investors who wish to establish and operate their business within the Clark Freeport and Special Economic Zone. Below are the following fiscal and non-fiscal incentives for businesses registered with CDC:
- Exempted from taxes and duties on spare parts
- Tax credits
- Additional deductions from taxable earnings
- Exempted from taxes on breeding stocks and genetic materials
- Rates Reduction of duty on capital equipment, spare parts and accessories by virtue of Executive Order No. 528
- Exempted from wharfage dues and export tax, duty, impost and fees
- Preferential tax rate of 5% based in gross income gained given that 70% of products are to be exported
- Research and development is allowable as deduction for manufacturing, trading and service enterprises
- Free movement of goods around Clark Freeport Zone as a separate customs territory
- Foreign nationals employment
Entrepreneurs that wish to establish a business in Clark will acquire various opportunities as CDC gives many incentives that will give them more room for their expansion funds.
Easily Register Your Business With CDC
The Clark Freeport Zone is a great location for businesses. Clark’s extensive hectares of land and advanced facilities increase the chances of companies grasping more opportunities when setting up a business there.
Registering with CDC gives plenty of advantages and incentives that can help business owners start their companies in Clark, Philippines. If you find Clark a good place to start a company, you may seek help from business firms to help you register your business with CDC.