A PEZA, or Philippine Economic Zone Authority, zone is a world-class, ready-for-occupancy, environment-friendly, secured, and competitively-priced economic zone. In the Philippines, there are very distinct locations considered as a PEZA zone. A perfect example is Lakeside Evozone.
Why Lakeside Evozone
Lakeside Evozone formed part of the first component of Nuvali's commercial section which spans up to 200 hectares. This is the area that serves both local and international businesses and retail companies. The commercial district is planned herein since Nuvali is one of the busiest places in Sta. Rosa and Sta. Rosa is one of the most bustling cities in Laguna.
People from the south and Manila frequent Nuvali regardless of the day of the week to unwind, dine, shop, and have fun while communing with nature. Add in the businesses that will employ hundreds to thousands of new employees, the traffic of people will even escalate to new volumes. Starting a new business or putting up a branch is the necessary next step.
Specifically, the district is initially intended for BPO (business process outsourcing) companies, training and conference facilities, hospitals or health centres, academic facilities or specialty schools, and hotels and apartel (apartment hotel). It is also advisable for dormitories and other non-saleable residential purposes.
Fundamentally, Convergys, one of the leading BPO firms in the country, is among the first locators of Lakeside Evozone. The company opened its Sta. Rosa operation in January 2009.
Fiscal and non-fiscal incentives
Incentives are provided for companies that chose to locate or relocate in the said area. Department of Trade and Industry, the government entity that oversees the conduct of PEZA, offers fiscal and non-fiscal incentives to companies operating in these special economic zones.
Among others, the fiscal incentives include an income tax holiday for six years for pioneer projects and four years for non-pioneer projects. Even after the expiry of the tax holiday, the firm will still receive a 5% tax exemption on its gross income on top of exemptions from all national and local taxes.
When the company needs to import raw materials, machinery, and spare parts, it will be entitled to a tax and duty-free importation. If that company chose to source the raw materials, machinery, and spare parts locally, the value added tax (VAT) will be waived (subject to the requirements of PEZA and Bureau of Internal Revenue (BIR).
Further, the non-fiscal incentives include a simplified import and export procedures such as electronic import permit system and automated export documentation system. If a company employs non-resident foreign nationals, he or she may progress into advisory, technical, and supervisory positions. These nationals, along with their spouses and children, are entitled to special non-immigrant visa with multiple entry privileges.
PEZA also extends visa facilitation services to these nationals if deemed necessary. The citizens may obtain this service regardless of their positions within the company.
Before a company may realize these benefits, operating in Lakeside Evozone has its requirements. All companies' projects or developments are subject to Nuvali's deed of restriction and design guidelines. The guidelines cover areas such as design, infrastructure, facilities, governance, and operations. For one, designs and plans are subject to Nuvali's Master Developer's approval.