Petron gets tax perks for P80-B new plant 127 SHARES Share it! Petron was granted non-pioneer incentives under the Downstream Oil Deregulation Act, which grants tax perks to investors. As a non-pioneer project, the San Miguel Corporation’s subsidiary is entitled to a 5-year income tax holiday, which the company can start availing once it starts commercial operation in February 2024. Aside from the five-year income tax holiday, Petron will also enjoy duty-free importation of its capital equipment. The new condensing processing plant will be a stand-alone facility located inside Petron’s oil refinery complex in Limay.

Source: Manila Bulletin September 24, 2018 13:52 UTC