Daily TribuneThe extended threshold for tax incentives and the longer ITH period will provide developers with increased financial incentives, making it more attractive for them to undertake housing projects.
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The Philippine Board of Investments has announced the increase of threshold price per housing unit eligible for government tax incentives from P2 million to P3 million during the National Developers Convention in Cebu City hosted by the Subdivision and Housing Developers Association.
In addition to the increased threshold, the BOI has also extended the income tax holiday period from four years to six years. The extended threshold for tax incentives and the longer ITH period will provide developers with increased financial incentives, making it more attractive for them to undertake housing projects.
With this year's theme focusing on local development, SHDA national president Arch. Leonardo Dayao Jr. emphasized the steps SHDA is taking to empower the local housing sector by collaborating with Local Government Units.
"Several developers of ours here are partnering with their different LGUs. We have one in Iloilo, Novaliches, so we have several developers already. The idea here is that we will partner with the local government who has the land so that we can help build and then make housing affordable," Dayao said.
"The reason why we have the convention yearly is to be able to assess where we are against the roadmap so that we know if we need to adjust strategies or we need to create new ones with the objective to be able to provide housing for each Filipino family," SHDA national chairman Arlene Keh said.
