BUTUAN CITY – In an effort to attract more businessmen to pour in their capital investment, both foreign and domestic, the provincial government of Agusan del Norte is offering huge tax exemptions to prospective investors, it was learned Saturday.

The provincial legislative board even unanimously passed a resolution recently to pave the way for foreign and domestic investors to enjoy at least three years exemption in real property tax payment, it was also learned.

Provincial Ordinance No. 254-2009, otherwise known as the Investment Code of the province of Agusan del Norte, also aims to give “atmosphere free” and “give due recognition to investors” who have established their business in this show-window and agricultural province of Caraga Region).

The Investment Incentive Code was authored by Board member Rey G. Jamboy.

According to the Agusan del Norte Bulletin, micro businesses with capital up to P3 million and have benefited at least five workers who are constituents of the province, and small business enterprises which own P3 million up to P15 million in assets and have at least 10 jobs generated will receive three years in real property tax exemption.

On the other hand, medium enterprises that have P15 million to P100 million in total assets and have at least generated 100 jobs will be exempted from real property tax for five years while large business enterprises which have P100 million and above in total assets and at least generated 200 jobs will be exempted for six years.

“This is one way of attracting more investors to invest in our province,” said Agusan del Norte Vice Gov. Enrico R. Corvera.

“This tax holiday is our expression of gratitude to businessmen who chose to invest in Agusan del Norte,” he added.

In relation to the economic activities in the province, the Provincial Economic Enterprise Development and Management Office (PEEDMO) will soon be handling all income-generating projects at the provincial capitol here, it was gathered.