More firms, including those outside the 1,733 hectare economic zone, can allow to avail incentives such as the following:

• income tax holiday;
• a 5% tax on gross income in lieu of national and local taxes except real property tax on land;
• duty-free import privileges;
• 0% value-added tax on the purchase of machinery, capital equipment or raw materials by export enterprises from domestic manufacturers;
• tax credit for materials to be used in making export products, tax deductions for training expenses;
• exemption from wharfage fees; and the employment of foreign nationals.

The rules will be implemented by the new established state agency, the Authority of the Freeport Area of Bataan (AFAB), which replaces the Philippine Economic Zone Authority.

A FAB is empowered to determine duty and tax free areas in the meantime while the municipality has yet to be secured with perimeter walls and a Presidential Proclamation on boundaries remain pending.

Meanwhile, House of Representatives ways and leaded by means committee vice-chairman Rep. Liwayway P. Vinzons-Chato of Camarines Norte, a former chief of the Bureau of Internal Revenue, had called for strict monitoring to avoid abuses of incentives. [via bataan.gov.ph]