Tagbilaran City mayor John Geesnell Yap II (left) poses with Philippine Economic Zone Authority (PEZA) Deputy Zone Administrator Allan Datahan (right) during the latter’s visit to the city. Contributed photo
The Philippine Economic Zone Authority (PEZA) tagged a property in Tagbilaran City as the newsst information technology (IT) park in Bohol, according to a report from the City Media Bureau.
In this regard, Tagbilaran City mayor John Geesnell Yap II congratulated Tagbilaran Uptown IT Hub led by its president, Engr. Albert Uy for being the first IT park in Bohol.
“The hard work and perseverance they have put in the application process are truly commendable. Their efforts bore fruit, the positive effect of this pursuit will not only be relegated to the investors, but will also trickle down to the local economy of the city. The new jobs and the daily transactions made inside the IT Park would eventually contribute to the local income,” Mayor Yap said in a statement released by the City Media Bureau.
The local chief executive also commended the 14th Sangguniang Panlungsod (SP) for favorably endorsing the application of the Tagbilaran Uptown Realty Corporation for the accreditation and registration of the 13,866 square meter property located at Rajah Sikatuna Avenue, barangay Dampas, Tas an IT park.
Allan Datahan, the deputy zone administrator of the PEZA paid a courtesy visit to Mayor Yap on Wednesday, June 9, 2021.
Datahan acknowledged the effort of the local officials in making the accreditation possible.
Moreover, Datahan said the accreditation could attract more business process outsourcing (BPO) investors and help the local government unit (LGU) generate more jobs and opportunities which could help improve Tagbilaran’s local economy.
“The investor in the area, TaskUs will enjoy the fiscal and non-fiscal incentives like 5% gross income tax, wherein the 3% will be paid directly to the National Treasury and the 2% will be remitted directly to the host LGU, zero [value added tax] VAT, and special working visa 47 (a) (2) for foreign national officers and employees of the company,” Datahan said.