Republic Acts1 min read
Section 10Sec./Art. 10
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Duration of Incentives. - Enterprises registered with AFAB may enjoy the income tax holiday (ITH) or the net operating loss carryover (NOLCO) granted by the authority prior to the availment of the five percent (5%) gross income earned (GIE). Fiscal incentives under this Act shall be terminated after a cumulative period of twenty (20) years from date of registration or start of commercial operation, whichever is applicable, except that it could be extended with regard to industries deemed indispensable to national development. The industries exempted from this provision shall be determined by the AFAB.
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