Professional Documents
Culture Documents
SECTION 1. Title. - This ordinance shall be known and cited as the DAVAO CITY INVESTMENT
INCENTIVE CODE OF 1994.
The City of Davao welcomes and encourages domestic and foreign capital to establish
enterprises that would utilize substantial amount of labor, raw materials and natural resources of
the City.
It is further declared to be the policy of the City to promote the establishment and operation of
non-government organizations to serve as active partners in achieving local autonomy.
SECTION 3. The Davao City Investment Incentive Board. – There is hereby created a Davao
City Investment Incentive Board (DCIIB) to implement the provisions of this Code.
SECTION 4. Composition of the Board. – The Board shall be composed of the following: (as
amended by City Ordinance No. 35, series of 1999)
1. The City Mayor, as the Board Chairperson;
2. The City Vice-Mayor, as the Board Vice-Chairperson;
3. The City Administrator;
4. The City Planning and Development Coordinator;
5. The Chairperson of the SP Committee on Trade, Commerce and Industry;
6. The Chairperson of the SP Committee on Finance, Ways and Means;
7. The Chairperson of the SP Committee on Public Works and Highways;
8. The Regional Director of the Department of Trade and Industry (DTI), Region XI;
9. The Chairperson of the Mindanao Economic Development Council (MEDCO);
10. The President of the Davao City Chamber of Commerce and Industry (DCCCI);
11. The Chairperson of the Mindanao Business Council (MBC);
12. The Chairperson of t he Philippine Exporters Confederation (PHILEXPORT) Region
XI;
13. The President of the Davao Tourism Association (DATA);
14. The President of the Cooperative Federation of Davao City;
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15. The Private Sector Representative to be appointed by the City Mayor, for a term of
two (2) years
The Davao City Investment Promotion Center shall serve as the Technical Secretariat of the
Board.
The membership of the Board may be increased by the Sangguniang Panglunsod through the
recommendation of the Board as it deems necessary for the effective implementation of the
provisions of the Code.
SECTION 5. Meetings and Quorum of the Board.- The Board shall meet at least once every
quarter or as often as may be necessary, on such a day and time as it may fix. The presence of
at least a majority of its members shall constitute a quorum and a majority of the quorum of a
meeting, validly held, shall be required for the Board to exercise its powers and perform its
functions.
SECTION 6. Powers and Functions of the Board. – The primary function of the Board shall be
to establish a favorable and stable policy on business climate which will encourage and support
private sector investment and in the operation of business activities consistent with the
development needs of Davao City. Pursuant to this, the Board shall be vested with the following
powers: (as amended by City Ordinance No. 35 series of 1999)
SECTION 6-A. Davao City Investment Promotion Center (The Center). - There shall be
created an office known as the Davao City Investment Promotions Center, which shall be staffed
by one (1) Economist IV, three (3) Economist III, one (1) Economist II, one (1) Economist I, and
one (1) Economic Researcher.
The Center shall be attached as a regular division of the Office of the City Planning and
Development Coordinator.
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SECTION 6-B. Powers and Duties of the Center. – The Center shall act as the Technical
Secretariat of the Board, which shall implement its policies and guidelines, and shall specifically
perform the following duties:
a. Accept, process and evaluate applications for registration for availment of local
incentives and submit recommendations for action by the Board;
b. Provide the necessary support services to investors as guaranteed under the Code;
c. Establish and maintain networking relations with other offices and agencies
whenever appropriate and necessary;
d. Collate, analyze and compile pertinent data and information and conduct studies
concerning areas that have been or may be declared as “preferred / priority areas of
Investments” by the Board;
e. Recommend to the Board modifications/amendments to existing legislations and
procedures on local investments when the need warrants;
f. Prepare agenda for meetings of the Board and submit for the latter’s consideration
and approval the policies and measures which are deemed necessary to carry out
the provisions of the Code;
g. Submit annual reports to the Board about its activities relative to the implementation
of the Code within 60 days after the close of each calendar year; and
h. Perform such other functions that are necessary and incidental for the effective
implementation of the Code.
SECTION 6-C. Technical Functions of the Center. – The Technical and Support Services Staff
shall have the corresponding functions, viz.:
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SECTION 6-D. Reporting. – The City Planning and Development Coordinator shall report to the
Board matters affecting the plans, programs and performance of the Center.
SECTION 7. Definition of Terms. – When used under this Code, the following terms and
phrases shall mean as follows:
a. “Board” shall refer to the Davao City Investment Incentive Board created under this
Code.
b. “City” shall refer to the City of Davao covering all the areas within its territorial
jurisdiction as provided for by law and its charter.
c. “Code” shall refer to the Davao City Investment Incentive Code of 1994.
d. “Existing establishments/enterprises” shall refer to those establishments/enterprises
whose places of operation or production are located within the territorial jurisdiction of
Davao City.
e. “Local Personnel/Worker” shall refer to those workers or personnel who are bona fide
residents of Davao City.
f. “New investors/enterprises” shall refer to those prospective investors who have not
engaged in any kind or type of business in Davao City and is interested in
establishing its places of operation or production in the City.
g. “Preferred Areas of Investment” shall mean the economic activities that the Board
shall have approved and declared as such after a thorough study and evaluation.
h. “Registered enterprises” shall mean those enterprises/businesses registered in
accordance with the provisions of this Code.
SECTION 8. Priority Investment Areas. – A list of priority areas and activities to be promoted to
targeted investors shall be drawn up by the Board, based on findings and recommendations of
economic and technical research commissioned for the purpose, and in consultation with the
Advisory Committee and other government and private sector leaders of Davao City. The Board
shall adopt the list for implementation under the Davao City Investment Program upon the
concurrence of the Sangguniang Panlungsod.
SECTION 9. Appropriate Incentives and Support Measures. – The Board shall identify and
recommend for the approval of the Sangguniang Panlungsod appropriate incentives and support
measures which it shall be willing to extend to targeted investors, to promote priority investment
areas and activities.
SECTION 10. Effectivity of Appropriate Incentives and Support Measures. The Board shall
review the package of appropriate incentives and support measures every two (2) years, provided
that the Board may remove an area or activity from the list, at any point, when it deems that
sufficient investments in the areas of activity have been attained and where continued extension
of incentives of support measures for the expansion of the said area or activity may place the
interest of the City and the public in adverse position. The Board may also remove an investment
area or activity from the list where it is convinced that investments in such areas or activities in
Davao City cannot be attracted within reasonable cost or may result in unfavorable business
climate.
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CHAPTER V. REGISTRATION OF ENTERPRISES
SECTION 11. Qualifications of a New Enterprise. – New investors who intend to avail of the
incentives provided in this Code must meet the following qualifications:
a. That the business enterprise must have complied with all the requirements mandated
under existing local and national laws and the Constitution;
b. That the prospective investor’s place of operation or production be located within the
territorial jurisdiction of Davao City;
c. That the prospective investment must engage in activities in preferred areas of
investments as may hereafter be declared by the Board;
d. The new enterprise must have a capitalization of at least One Million Pesos but not
more than Ten Million Pesos in case of a small-scale enterprise; at least Ten Million
Pesos but not more than Forty Million Pesos in case of a medium-scale enterprise;
and more than Forty Million Pesos in case of a large industry; Provided, that the
amount of capitalization shall be based on the total project cost as stated in the
investor’s study submitted to and approved by the Board; and
e. That the new enterprise will provide out of the labor force an employment of no less
than ten (10) persons in case of a small-scale enterprise; at least twenty (20) persons
in case of a medium-scale enterprise; and at least one hundred (100) persons in
case of a large industry who are bona fide residents of Davao City.
a. That the business enterprise must have complied with all the requirements mandated
under existing local and national laws and the Constitution;
b. That the expansion/diversification must engage in activities mentioned in Section 2
hereof or in other preferred areas of investments as may hereafter be declared by the
Board;
c. That the existing enterprise whose place of operation or production is already located
within the territorial jurisdiction of Davao City, but which will undertake any of the
following activities/projects:
i) Relocate its principal office from other places in the Philippines to Davao City; or
ii) Expand its existing production capacity or construct new buildings and other civil
works for the installation of new machinery and equipment or improvements
thereof which will result in an increase in production capacity.
SECTION 13. Application Requirements. – Application shall be filed with the Board, recorded in
a registration book and the date appearing therein and stamped on the application shall be
considered the date of official receipt thereof.
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A non-refundable filing fee shall be paid together with the following documents for registration:
SECTION 14. Approval and Registration Procedures. – The Board is authorized to adopt
rules and regulations to facilitate action on applications filed with it; prescribe criteria for the
evaluation of several applications filed in one preferred area; and devise standard forms for use
of applicants.
SECTION 15. Certificate of Registration. – A registered enterprise under this Code shall be
issued a Certificate of Registration with the signature of its Chairman and/or such other officer of
the Board as it may empower and designate for the purpose. The Certificate of Registration shall
be in such form and style as the board may determine.
SECTION 16. Rights and Privileges by the City Government. – All investors and registered
enterprises are entitled to the rights and guarantees provided by law and the Constitution. In
addition to such rights and guarantees, and to enhance investor confidence in the incentives
program, the City Government, thru the Davao City Investment Incentive Board, shall:
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CHAPTER VII. INCENTIVES TO REGISTERED ENTERPRISES
a) Within three (3) years from the start of commercial operations, a registered
enterprise under this Code shall be fully exempt from the Mayor’s permit
fees, building permit fees, business sales taxes, and other fees and charges
imposed under existing city ordinances;
b) Exemption from the basic real property tax due the City, excluding the
barangay share, under the Tax Code for a period of two (2) years from the
accrual of the real property tax.
SECTION 18. Appropriations. – To defray the expenses for personal services (P.S.),
monthly operating and overhead expenses (MOOE) and capital/equipment outlay
necessary for the implementation of the provisions of this Ordinance, funds shall be
sourced thru a Supplemental Budget from the General Fund and/or from the 20% Annual
Development Fund for CY 1999. Appropriations for the succeeding years shall be
included in the regular Annual Budget, upon the recommendation of the Board.
SECTION 19. Penal Clause. – Any violation of the provisions of this Code, existing laws,
ordinances, rules and regulations, shall be ground for the cancellation or revocation of
the registration of the business and the withdrawal of all the incentives granted under this
Code.
SECTION 20. Separability Clause. – The provisions of this Code are hereby declared to
be separable and in the event that one or more of the other provisions are held illegal or
unconstitutional, the validity of the other provisions shall not be affected.
SECTION 21. Repealing Clause. – Ordinances, executive orders and other local
legislation inconsistent with this Ordinance are hereby modified or repealed accordingly.
SECTION 22. Effectivity. – This Ordinance shall take effect immediately upon its
approval.
ENACTED, August 3, 1999 by a unanimous vote of all the Members of the Sanggunian
present there being a quorum.
CERTIFIED CORRECT:
LOLITA C. GARCIA
Acting Secretary
Sangguniang Panlungsod
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ATTESTED:
LUIS C. BONGUYAN
Vice Mayor
Presiding Officer, Sangguniang Panlungsod
APPROVED: , 1999
BENJAMIN C. DE GUZMAN
City Mayor
City of Davao
ATTESTED:
NESTOR M. LEDESMA
City Administrator
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RULES AND REGULATIONS
IMPLEMENTING THE DAVAO CITY
INVESTMENT INCENTIVE
CODE OF 1994
__________________________________
CITY ORDINANCE NO. 2269,
SERIES OF 1994
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RULE I. POLICY APPLICATION
Article 1. Title. – These Rules shall be known and cited as the Rules and Regulations
Implementing the DAVAO CITY INVESTMENT INCENTIVE CODE OF 1994.
Article 2. Purpose. – These Rules are promulgated to prescribe the procedure and
guidelines for the implementation of the Davao City Investment Incentive Code of 1994 in
order to facilitate compliance therewith and achieve the objectives thereof.
The City of Davao welcomes and encourages domestic and foreign capital to establish
enterprises that would utilize substantial amount of labor, raw materials and natural
resources of the City.
It is further declared to be the policy of the City to promote the establishment and
operation of non-government organizations to serve as active partners in achieving local
autonomy.
Article 4. Scope of Application. – These Rules shall apply to all persons, entities or
enterprises, government and non-government organizations and instrumentalities to the
extent provided in the Code.
Article 5. Rules of Interpretation. – Any conflict or controversy arising under the Code
shall be resolved on the basis of applicable legal provision or jurisprudence in the
absence thereof, the customs and traditions in so far as they are applicable to the conflict
or controversy may be resorted to.
Article 6. The Davao City Investment Incentive Board. – There is hereby created a
Davao City Investment Incentive Board (DCIIB) to implement the provisions of the Code.
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Article 7. Composition of the Board. – The Board shall be composed of the following
(as amended by City Ordinance No. 36, Series of 1999) :
Chairperson ……………… City Mayor
Vice Chairperson ……….. City Vice-Mayor
Members:
Chairperson, SP Committee on Trade, Commerce and Industry
Chairperson, SP Committee on Finance, Ways and Means
Chairperson, SP Committee on Public Works and Highways
City Administrator
City Planning and Development Coordinator
Regional Director, Department of Trade and Industry, Region XI
Chairperson, Mindanao Economic Development Council (MEDCO)
President, Davao City Chamber of Commerce and Industry, Inc. (DCCCII)
Chairperson, Mindanao Business Council (MBC)
Chairperson, Philippine Exporters Confederation (PHILEXPORT), Region XI
President, Davao Tourism Association (DATA)
President, Cooperative Federation of Davao City
Private Sector Representative, to be appointed by the City Mayor for a term of
two (2) years
The Davao City Investment Promotion Center shall serve as the Technical Secretariat of
the Board.
Article 8. Meetings and Quorum of the Board. – The Board shall meet at least once
every quarter or as often as may be necessary, on such a day as it may fix. The
presence of at least a majority of its members shall constitute a quorum, and a majority of
the quorum in a meeting validly held shall be required for the Board to exercise its
powers and perform its functions.
Article 9. Powers and Functions of the Board. – The primary function of the Board
shall be to establish a favorable and stable policy on business climate which will
encourage and support private sector investment and in the operation of business
activities consistent with the development needs of Davao City. Pursuant to this, the
Board shall be vested with the following powers (as amended by City Ordinance No. 36, Series of 1999):
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the Davao City Investment Promotion Center in the implementation of the provisions
of the Code;
f. To enlist the assistance of local government offices, national agencies and private
sector organizations, as may be necessary, useful and incidental to the effective and
efficient implementation of this ordinance;
g. To establish trade and investment liaison offices in places to be determined by the
Board as may be necessary to promote the City’s business climate; and
h. To perform such other powers and functions as are necessary and incidental to the
exercise and performance of the aforesaid functions.
Article 10. Powers and Functions of the Chairman. – The Chairman of the Board shall
have the following powers and duties:
Article 11. Powers and Functions of the Vice-Chairman. – The Vice-Chairman of the
Board shall have the following powers and duties:
a. To preside over the regular and special meetings of the Board in the absence of the
Chairman; and
b. To perform other duties of the Chairman in the absence of the latter, and such other
duties as may be assigned to him by the Board.
Article 12. Definition of Terms. – For the purpose of these Rules and Regulations:
a. “Board” shall refer to the Davao City Investment Incentive Board created under the
Code.
b. “Capitalization” shall mean the total project cost.
c. “Center” shall mean the Davao City Investment Promotion Center, or in short, the
Davao Investment Promotion Center, which is the institution that will serve as the
technical secretariat of the Board and the implementing arm of the Code.
d. “City” shall mean the City of Davao covering all areas within its territorial jurisdiction
as provided for by law and its charter.
e. “Code” shall refer to the Davao City Investment Incentive Code of 1994 promulgated
pursuant to the Sangguniang Panlungsod Resolution No. 6652 and Ordinance No.
2017 dated 13 May 1994 and approved by Mayor Rodrigo R. Duterte on June 15,
1994.
f. “Existing Establishments/Enterprises” refer to those establishments/enterprises
whose places of operation or production are presently located within the territorial
jurisdiction of Davao City.
g. “Local Personnel/Worker” refers to those workers or personnel who are residents of
Davao City for at least six (6) months wherein proof of residency is the presentation
of a Barangay Clearance from the barangay where he/she resides.
h. “New Investors/Enterprises” refer to those who intend to venture into new project/s in
the city with interests in establishing their places of operation or production within the
territorial jurisdiction of Davao City.
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i. “Preferred/Priority Areas of Investments” refer to the economic activities cited under
Section 2, Chapter 1 of the Davao Investment Incentive Code of 1994 and those
areas which the Board may subsequently recommend and approve by the
Sangguniang Panlungsod.
j. “Project Study” refers to a Project Profile which presents, among others, highlights of
the financial and the socio-economic impact of the project.
k. “Registered Enterprise” refers to those enterprises/businesses registered in
accordance with the provision of the Code.
a. Port Infrastructure;
b. Common Bonded Warehouses.
a. Garments;
b. Footwear;
c. Bulky Housewares;
d. Toys.
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Article 14. Determination of Additional Investment Area. – Based on a result of a
study conducted by an independent economic and technical research group
commissioned for the purpose, and in consultation with the Advisory Committee and
other government and private sector leaders of Davao City, the center may recommend
to the Board additional investment areas for inclusion in the list of priority investment
areas which upon due deliberation and approval shall then be adopted for
implementation under the Davao City Investment Program with the concurrence of the
Sangguniang Panlungsod.
Article 15. Appropriate Incentives and Support Measures. – The Board, upon the
recommendation of the Center shall identify and recommend for the approval of the
Sangguniang Panlungsod appropriate incentives and support measures which it shall be
willing to extend, to promote priority investment areas and activities, to targeted investors.
The Center may also recommend to the Board to remove an investment area or activity
from the list where such area or activity in the City cannot attract investors within
reasonable time and cost or may result in unfavorable business climate.
Article 17. Removal / Deletion of a Preferred / Priority Investment Area. - Upon the
recommendation of the Center, the Board may remove an area or activity from the list of
preferred / priority areas for investments. Bases for the removal of Preferred Investment
Area are as follows:
1. The new business enterprise must have complied with all the requirements mandated
under existing local and national laws and the Constitution by and through
presentation of certificates of registration issued by either the Securities and
Exchange Commission (SEC), Department of Trade and Industry (DTI) or
Cooperative Development Authority (CDA) and other national government accrediting
agencies, as the case may be;
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2. The prospective investor’s place of operation or production must be located within the
territorial jurisdiction of Davao City;
3. The investment must be among the approved “preferred / priority areas of
investments”;
4. The investment must provide employment amongst bonafide residents of Davao City
under Article 12 (g) hereof;
5. The new enterprise must have a capitalization of:
a. At least One Million Pesos (P 1 million) but not more than Ten (10) Million Pesos,
in case of a small-scale enterprise;
b. Over Ten (10) Million Pesos but not more than Forty (40) Million Pesos, in case
of a medium-scale enterprise; and
c. More than Forty (40) Million Pesos, in case of a large-scale industry.
1. It must have complied with all the requirements mandated under existing local and
national laws and the Constitution, by and through the presentation of certificates of
registration issued by either the SEC, DTI, or CDA and other national government
accrediting agencies, as the case may be;
2. The expansion or diversification must be among the approved “preferred/priority
areas of investments”;
3. The existing enterprise, whose place of operation or production is already located
within the territorial jurisdiction of the City, will undertake any the following
activities/projects:
a. Relocate its principal office from other places in the Philippines to Davao City; or
b. Expand its existing production capacity or construct new buildings and other civil
works for the installation of new machinery and equipment or improvements
thereof which will result in an increase in production capacity or for diversification
project;
a. At least One Million Pesos (P 1 million) but not more than Ten (10) Million
Pesos, in case of a small-scale enterprise;
b. Over Ten (10) Million Pesos but not more than Forty (40) Million Pesos, in case
of a medium-scale enterprise; and
c. More than Forty (40) Million Pesos, in case of a large-scale industry;
5. That the expansion/diversification shall provide out of the labor force an employment
of:
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Article 20. Application Requirements. – Application must be filed with the Board,
recorded in a registration book and the date appearing therein and stamped on the
application shall be considered the date of official acceptance. (As amended by City Ordinance No.
4603-A, Series of 1997)
All applications shall be filed with the Davao City Investment Incentive Board through
the Davao City Investment Promotion Center.
Applications shall be filed with the Davao City Investment Incentives Board through
the Davao City Investment Promotion Center and recorded in a registration book; and
date appearing therein and stamped on the application shall be considered the date
of official acceptance.
c. Processing Time
Applications for incentives shall be acted upon by the Center within ten (10) working
days from the official acceptance thereof and by the Chairman of the Board within an
additional ten (10) working days. If and when the application is not acted upon within
the stated period of a total of twenty (20) days, the application is deemed approved.
d. Filing Fee
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e. Required Documents for Registration
1. Three (3) copies of completed application form, the form of which can be secured
from the Center;
2. A copy of the project study of the proposed investment, indicating the financial
and socio-economic impact of the project;
3. A certified true copy of its Certificate of Business Name Registration from the
Department of Trade and Industry.
1. Three (3) copies of completed application form, the form of which can be secured
from the Center;
2. A copy of the project study of the proposed investment indicating the financial
and socio-economic impact of the project;
3. A copy of the company’s Articles of Partnership/Incorporation and By-laws as
approved by the Securities and Exchange Commission;
4. Authority from the Partners or the Board of Directors, as the case may be, to file
the application.
For Cooperatives
1. Three (3) copies of completed application form, the form of which can be secured
from the Center;
2. A copy of the project study of the proposed investment indicating the financial
and socio-economic impact of the project;
3. A copy of the Certificate of Registration from Cooperative Development Authority;
4. Authority from the Board of Directors to file the application.
f. A certified true copy of its Certificate of Registration with SEC, DTI or CDA, or other
accrediting agencies, as the case may be.
Article 21. Registration and Approval Procedures. (As amended by City Ordinance No. 4603-A,
Series of 1997)
a. Registration Procedure
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P 50,000.00 - for enterprises with a capitalization of more than One Hundred
Million Pesos (P 100-Million) up to One Billion Pesos
(P 1-Billion); and
P100, 000.00 - for enterprises with a capitalization of more than One Billion
Pesos (P 1-Billion);
3. Once all required documents are submitted, the project will be evaluated by the
Center;
4. If found not qualified, the Center informs the applicant;
5. If found qualified, the Center forwards the application to the Chairman of the
Board for approval;
6. Once approved by the Chairman, the Center informs the applicant in writing and
delivers the Certificate of Registration;
7. The Center then informs all concerned agencies, and entities of such approval
for their information, guidance and appropriate action.
b. Evaluation Criteria
The following criteria will be used in the evaluation of applications for registration
under the new code:
a. At least One (1) Million Pesos but not more than Ten (10) Million
Pesos, in case of a small-scale enterprise;
b. Over Ten (10) Million Pesos but not more than Forty (40) Million
Pesos, in case of a medium-scale enterprise; and
c. More than Forty (40) Million Pesos, in case of a large-scale industry;
c. Certificate of Registration
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RULE VI. RIGHTS AND PRIVILEGES OF REGISTERED ENTERPRISES
Article 22. Rights and Privileges Guaranteed by the Davao City Government – All
enterprises registered under the Code are entitled to the rights and guarantees provided
by law and the Constitution, and as such, the City Government thru the Board shall:
RULE VII. THE DAVAO CITY INVESTMENT PROMOTION CENTER (As amended by City Ordinance no.
36, series of 1999)
Article 23-A. Davao City Investment Promotion Center (The Center). - There shall be
created an office known as the Davao City Investment Promotion Center, which shall be
staffed by one (1) Economist IV, three (3) Economist III, one (1) Economist II, one (1)
Economist I and one (1) Economic Researcher.
The Center shall be attached as a regular division in the Office of the City Planning and
Development Coordinator.
Article 23-B. Powers and Duties of the Center. - The Center shall act as the Technical
Secretariat of the Board, and shall implement its policies and guidelines, and shall
specifically perform the following duties:
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e. Recommend to the Board any modifications / amendments to existing
legislation and procedures on local investments;
f. Prepare agenda for meetings of the Board, and submit for the latter’s
consideration and approval the policies and measures which are deemed
necessary to carry out the provisions of the Code;
g. Submit annual reports to the Board about its activities relative to the
implementation of the Code within sixty (60) days after the close of each
calendar year; and
h. Perform such other functions that are necessary and incidental for the
effective implementation of this Code.
Article 23-C. Technical Functions of the Center. – The Technical and Support
Services Staff shall have the corresponding functions, viz.:
Article 23-D. Reporting. - The City Planning and Development Coordinator shall report
to the Board matters affecting plans, programs and performance of the Center.
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RULE VIII. INCENTIVES PROVIDED TO REGISTERED ENTERPRISES
ARTICLE 25. Appropriations. – To defray the expenses for personal services (P.S),
monthly operating and overhead expenses (MOOE) and Capital/Equipment Outlay
necessary for the implementation of the provisions of this Ordinance, funds shall be
sourced thru a Supplemental Budget from the General Fund and/or from the 20% Annual
Development Fund for CY 1999. Appropriations for the succeeding years shall be
included in the regular annual budget, upon the recommendation of the Board. (As amended
by City Ordinance no. 36, series of 1999)
Article 26. Visitorial. – Visitorial Power of the Board or Center. The Board, the Center,
or any duly authorized member thereof, is hereby empowered and authorized to conduct
an ocular inspection of the premises or examination of the business activity of any
enterprise, including the records and books of any enterprise, registered or applying for
registration at any reasonable time of the day, during office hours, for verification or
ascertaining, the enterprise’s strict compliance with the provisions of the Code or of these
Rules, or when the Board or Center deems it necessary in or incidental to the effective
exercise and performance of their respective functions and powers.
Article 27. Reportorial. – Submission of Reports and other Documents. Every registered
enterprise shall, for each preferred/priority area of investments, submit to the Board the
following reports and/or documents within the time herein prescribed:
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f. Audited Annual Financial Statements, within thirty (30) calendar days after its
submission to the Bureau of Internal Revenue (BIR); and
g. Report on total local incentives availed of under the Code.
Article 28. Sanctions for Late Submission of Reportorial Requirements.- For late
submission of the reportorial requirements, every registered enterprise shall, for each
preferred/priority area of investment, be fined in accordance with the following:
Cancellation or revocation of the certificate of registration shall mean the withdrawal of all
the incentives granted under the Code; and all fees and charges previously exempted
shall become due and demandable.
Upon the recommendation of the Center, the Chairman of the Board may cancel or
revoke the Certificate of Registration of the concerned business enterprise through a
formal written notice to that effect, and shall become effective on the 16th day from the
receipt thereof.
Article 30. Approval. - The applicant adversely affected by any decision may, within
fifteen (15) days from the receipt of such decision, appeal the same to the Board, whose
decision shall be final and executory.
Article 31. Separability Clause. - The provisions of these Rules are hereby declared to
be separable, and in the event that one or more of the provisions hereof are held illegal
or unconstitutional, the validity of the other provisions shall not be affected thereby.
Article 32. Repealing Clause. - Ordinances, Executive orders and other local legislation
inconsistent with this Ordinance are hereby modified or repealed accordingly. (As amended
by City Ordinance no. 36, series of 1999)
Article 33. Effectivity. – This Ordinance shall take effect immediately upon approval. (As
amended by City Ordinance no. 36, series of 1999)
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