Cirtek gets expansion approval from PEZA
Cirtek Holdings Philippines Corporation, a fully integrated technology company engaged in high-technology product development, gets application approval for expansion and upcoming projects from the Philippine Economic Zone Authority (PEZA).
In a disclosure to the Philippine Stock Exchange, Cirtek Holdings said that the expansion project of its semiconductor arm segment Cirtek Electronics Corp. (CEC), and the other two projects from their subsidiary Cirtek Advanced Technologies and Solutions, Inc. (CATSI) received the approval of PEZA.
“The company is very glad for the continuous support and assistance of PEZA. Now that our country is attaining herd immunity and reopening its economy, the company is very optimistic that it would hit a significant increase in its export revenues,” the Cirtek group’s management said.
The approved projects are entitled to a three-year income tax holiday (ITH) on incremental sales and 10 years of 5% special corporate income tax (SCIT).
Meanwhile, the first approved project of CATSI is the Quintel Multi-port Antennas for 5G application set to start operating in January 2023. The project is entitled to a five-year ITH and 10 years of 5% SCIT.
Its second approved project is the manufacture of Analog Device, Inc.’s radio frequency (RF) load boards and products set to start operating in April 2023.
