A Copy of the House Bill 8212 or the SpeDEZ Act |
The House Bill Number 8212 or the “Special Defense Economic Zone (SpeDEZ) Act” was passed by Congress on its third and final reading recently. The Bill seeks to establish a SpeDEZ Authority inside the Government Arsenal’s (GA) Defense Industrial Estate in Bataan.
- All Activities inside the Zone will be Tax-free
- All Raw Materials, Capital and Equipment inside the Zone will be exempt from Tax and Customs Duties
- All sale of Goods from the Zone to the Philippine Military and Police will also exempt from Taxes and Customs Duties
- A certain Percentage of Raw Materials used by the Companies inside the Zone should be sourced from local Companies (Percentage to be determined by the SpeDEZ Authority)
- A One-Stop Shop for Clearances, Permits, etc. should be established in the Zone for faster and easier processing