FIRB approves tax incentives for Cebu RoRo shipping vessel
Finance Secretary and FIRB chairman Carlos Dominguez III (File photo) MANILA - The Fiscal Incentives Review Board (FIRB) has approved the tax incentives for the operations of a proposed PHP1.5-billion Cebu City-based shipping vessel, specializing in roll-on roll-off (RoRo) passenger and cargo operations. The grant includes four years of income tax holiday, five years of enhanced deductions, and 11 years of duty exemption on importations. The new shipping vessel sails the Cebu-Cagayan de Oro (CDO) route on a reduced travel time and still comparable rate, setting itself apart in the market as a ...